Guideline Value for Thulasi Nagar, Vinayagapuram (Ward-29)

Thulasi Nagar, Vinayagapuram (Ward-29) guideline value

The current guideline value of Thulasi Nagar, Vinayagapuram (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Thulasi Nagar, Vinayagapuram (Ward-29) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the value increased significantly to Rs 1,300 per sq.ft, which is a rise of 62%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 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

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO with 2024 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, making Thulasi Nagar's 2024 figure below that median.

• Thulasi Nagar: Rs 1,300 per sq.ft (2024)
• T.H. Road (Ward No.20): Rs 3,300 per sq.ft (2024)
• Thoothukudi Velaisamy St (Ward-10): Rs 1,300 per sq.ft (2024)
• Thiyagi Sankarlinganar St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)
• Tirupur Kumuran Street (Ponniamman Medu) (Ward-22): Rs 1,300 per sq.ft (2024)
• Thiru.Vi.Ka 6th Street (Ward-13): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thulasi Nagar, Vinayagapuram (Ward-29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thulasi Nagar, Vinayagapuram (Ward-29)?

The Sub Registrar Office covering Thulasi Nagar, Vinayagapuram (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

When buying or selling property in Madhavaram, the guideline value is a critical factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction.

It is essential to ensure that the sale price is at least equal to or higher than the guideline value, as the duty is charged based on the higher of the two values. This ensures compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Thulasi Nagar, Vinayagapuram (Ward-29)?

The current guideline value of Thulasi Nagar, Vinayagapuram (Ward-29) 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 seen several changes: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 8%.

What is the land classification of Thulasi Nagar, Vinayagapuram?

Thulasi Nagar, Vinayagapuram is classified as Residential Class III Type - I. This classification influences the guideline value and other regulatory aspects of property transactions in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Thulasi Nagar, Vinayagapuram?

The Sub Registrar Office for Thulasi Nagar, Vinayagapuram is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration activities for properties in this area.