Guideline Value for Thilagar Avenue 3rd Street

Thilagar Avenue 3rd Street guideline value

The current guideline value of Thilagar Avenue 3rd 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. The land classification for this area is Residential Class I Type - II.

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

The guideline value for Thilagar Avenue 3rd 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 set at Rs 3,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

This progression shows an upward trend in the guideline value, with the 2024 figure being significantly higher than the 2023 value. The 2024 guideline value is also above the median 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 guideline values for the streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Thilagar Avenue 3rd Street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Thilagar Avenue 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Street Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 5th cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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. 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 3rd Street?

The Sub Registrar Office that covers Thilagar Avenue 3rd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

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

The current guideline value of Thilagar Avenue 3rd 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 3rd Street was Rs 3,000 per sq.ft in 2023 and has increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Thilagar Avenue 3rd Street?

The land classification for Thilagar Avenue 3rd Street is Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties 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. The duty is charged on the higher of the guideline value or the sale price.

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 registrations for properties in the area.