Guideline Value for Thilagar Avenue 2nd Street

Thilagar Avenue 2nd Street guideline value

The current guideline value of Thilagar Avenue 2nd Street in Madipakkam-1 village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class I Type - II.

How the guideline value of Thilagar Avenue 2nd Street has changed

The guideline value for Thilagar Avenue 2nd Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,000 per sq.ft, which increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

This increase reflects the changes in the guideline value from the previous year. The 2024 figure of Rs 3,300 per sq.ft is now established, marking a significant rise from the 2023 figure of Rs 3,000 per sq.ft.

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 these streets is Rs 2,750 per sq.ft, placing Thilagar Avenue 2nd Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Thilagar Avenue 2nd 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, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 Street?

The Thilagar Avenue 2nd Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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 applicable stamp duty and registration fees, ensuring that these costs are calculated based on the established values.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy and ensuring that the government receives the appropriate taxes. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Thilagar Avenue 2nd 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 has increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% rise. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Thilagar Avenue 2nd Street?

Thilagar Avenue 2nd Street is classified as Residential Class I Type - II within the Velacheri SRO.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,31,000.

Where can I find the Sub Registrar Office for Thilagar Avenue 2nd Street?

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