Guideline Value for Thilagar Avenue 1st Cross Street

Thilagar Avenue 1st Cross Street guideline value

The current guideline value of Thilagar Avenue 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - II.

How the guideline value of Thilagar Avenue 1st Cross Street has changed

The guideline value for Thilagar Avenue 1st Cross Street has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, which was then increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, the guideline value for this street was not recorded in the register. The 2024 value of Rs 3,300 per sq.ft is above the median value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

The village figures for Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Thilagar Avenue 1st Cross Street's 2024 figure of Rs 3,300 per sq.ft is above this median. Other streets in Madipakkam-1 include:

• Thilagar Avenue 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 1st Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 10th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 1st Cross Street

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. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thilagar Avenue 1st Cross Street?

The Sub Registrar Office that covers Thilagar Avenue 1st Cross Street 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 plays a crucial role in property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations during the registration process.

Additionally, the guideline value helps in establishing a standard pricing mechanism for properties in the area. This ensures transparency and fairness in property transactions, allowing both parties to have a clear understanding of the financial implications involved.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 1st Cross Street?

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

How has the guideline value changed over the years?

The guideline value for Thilagar Avenue 1st Cross Street has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 3,300 per sq.ft. This includes streets like Thilagar Avenue 11th Cross Street and Thilagar Avenue 1st Main Road, among others.

How is stamp duty calculated for properties in Thilagar Avenue 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.

Where can I find the Sub Registrar Office for Thilagar Avenue 1st Cross Street?

The Sub Registrar Office for Thilagar Avenue 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO through the provided link.