Guideline Value for Thilagar Avenue 3rd Cross Street

Thilagar Avenue 3rd Cross Street guideline value

The current guideline value of Thilagar Avenue 3rd 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, and is classified as Residential Class I Type - II.

How the guideline value of Thilagar Avenue 3rd Cross Street has changed

The guideline value for Thilagar Avenue 3rd Cross Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 3,000 per sq.ft, and it increased to Rs 3,300 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, the last recorded figure was from 2023. The current figure of Rs 3,300 per sq.ft places this street above the median guideline value for Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Thilagar Avenue 3rd Cross Street's 2024 figure is above this median.

• Thilagar Avenue 2nd Street Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 3rd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 3rd Cross Street?

The Sub Registrar Office that covers Thilagar Avenue 3rd 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 is a crucial factor in property transactions within Madipakkam-1, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 3rd Cross Street?

The current guideline value of Thilagar Avenue 3rd 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 this street has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is an increase of +10%. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Thilagar Avenue 3rd Cross Street?

Thilagar Avenue 3rd Cross Street is classified as Residential Class I Type - II. This classification is important for understanding the permissible uses of the land.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Thilagar Avenue 3rd Cross Street?

The Velacheri Sub Registrar Office handles the registration for Thilagar Avenue 3rd Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.