Guideline Value for Andavar Street / Thilagar Avenue

Andavar Street / Thilagar Avenue guideline value

The current guideline value for Andavar Street / Thilagar Avenue in Madipakkam-1 village under the Velacheri SRO is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Andavar Street / Thilagar Avenue has changed

Over the years, the guideline value for Andavar Street / Thilagar Avenue has seen significant changes. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest 2024 revision has further raised this to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, positioning Andavar Street / Thilagar Avenue above this median.

• Andavar Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Andavar Street: Rs 2,200 per sq.ft (2024)
• Andal Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Andal Nagar Extn: Rs 2,200 per sq.ft (2024)
• Andal Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Andal Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Andavar Street / Thilagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Andavar Street / Thilagar Avenue?

The Sub Registrar Office that covers Andavar Street / Thilagar Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Andavar Street / Thilagar Avenue?

The current guideline value of Andavar Street / Thilagar Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Andavar Street / Thilagar Avenue?

Andavar Street / Thilagar Avenue falls under the Residential Class I Type - II land classification.

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

The Velacheri Sub Registrar Office covers Andavar Street / Thilagar Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.