Guideline Value for Thoothukudi Velaisamy St (Ward-10)

Thoothukudi Velaisamy St (Ward-10) guideline value

The current guideline value of Thoothukudi Velaisamy St (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Thoothukudi Velaisamy St (Ward-10) has changed

The guideline value for Thoothukudi Velaisamy St has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, marking a significant increase of 62% from the 2017 figure.

When looking at the changes from the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

Madhavaram has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that the 2024 figure for Thoothukudi Velaisamy St is below this median.

• Thiyagi Sankarlinganar St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)
• T.H. Road (Ward No.20): Rs 3,300 per sq.ft (2024)
• Thulasi Nagar: Rs 1,300 per sq.ft (2024)
• Thulasi Nagar, Vinayagapuram (Ward-29): Rs 1,300 per sq.ft (2024)
• Thiru.Vi.Ka 6th Street (Ward-13): Rs 1,600 per sq.ft (2024)
• Thiru.Vi.Ka 5th Street (Ward-13): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thoothukudi Velaisamy St (Ward-10)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thoothukudi Velaisamy St (Ward-10)?

The Sub Registrar Office that covers Thoothukudi Velaisamy St (Ward-10) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

Frequently asked questions

What is the current guideline value for Thoothukudi Velaisamy St (Ward-10)?

The current guideline value for Thoothukudi Velaisamy St (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. There was a decrease of 33% from 2012 to 2017, followed by a 62% increase from 2017 to 2024.

What is the land classification for Thoothukudi Velaisamy St (Ward-10)?

The land classification for Thoothukudi Velaisamy St (Ward-10) is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thoothukudi Velaisamy St (Ward-10) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.