Guideline Value for Thangavelu Street Extn

Thangavelu Street Extn guideline value

The current guideline value of Thangavelu Street Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thangavelu Street Extn has changed

The guideline value for Thangavelu Street Extn has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft. This represents an increase of 10% to the current guideline value of Rs 2,200 per sq.ft in the 2024 revision.

This change from 2023 to 2024 indicates a rise in the guideline value, moving from Rs 2,000 to Rs 2,200 per sq.ft. The current 2024 figure is below the median guideline value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Thangavelu Street Extn's current guideline value of Rs 2,200 per sq.ft is below this median.

• Thangavelu Street: Rs 2,200 per sq.ft (2024)
• Thangal Salai (Sadasiva Nagar): Rs 2,750 per sq.ft (2024)
• Thara Barathi Street: Rs 2,200 per sq.ft (2024)
• Tharabatathi Street, Jaya Nagar: Rs 2,200 per sq.ft (2024)
• Thendulkar Street: Rs 2,200 per sq.ft (2024)
• Thilagar Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavelu Street Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Thangavelu Street Extn?

The Thangavelu Street Extn is covered by 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 plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the transaction. It is advisable to consult the latest figures and revisions to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Thangavelu Street Extn?

The current guideline value of Thangavelu Street Extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thangavelu Street Extn has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Thangavelu Street Extn?

Thangavelu Street Extn is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.