Guideline Value for Thilagar Avenue 2nd Main Road

Thilagar Avenue 2nd Main Road guideline value

The current guideline value for Thilagar Avenue 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thilagar Avenue 2nd Main Road has changed

The guideline value for Thilagar Avenue 2nd Main Road has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,000 per sq.ft. With the 2024 revision, the value increased to Rs 3,300 per sq.ft, reflecting a change of +10% from the previous year.

In summary, the guideline value has increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. This current figure is indicative of the value of properties on this street as of the latest revision.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this area is Rs 2,750 per sq.ft, placing Thilagar Avenue 2nd Main Road's 2024 figure above this median.

• Thilagar Avenue 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 1st Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Street Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 2nd Main Road

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, totaling Rs 2,97,000. It is important to note that the stamp 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 Thilagar Avenue 2nd Main Road?

The Sub Registrar Office that covers Thilagar Avenue 2nd Main Road 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 assistance.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which properties can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

This value is essential for both buyers and sellers, as it provides a framework for understanding property worth in the area. It helps ensure transparency and fairness in property transactions within the Madipakkam-1 locality.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 2nd Main Road?

The current guideline value of Thilagar Avenue 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

In 2023, the guideline value was Rs 3,000 per sq.ft, and it increased to Rs 3,300 per sq.ft in 2024, reflecting a change of +10%.

What is the land classification for Thilagar Avenue 2nd Main Road?

The land classification for Thilagar Avenue 2nd Main Road is Residential Class I Type - II.

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

The Velacheri Sub Registrar Office covers Thilagar Avenue 2nd Main Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total fees would amount to Rs 2,97,000.