Guideline Value for Thilagar Avenue 4th Cross Street

Thilagar Avenue 4th Cross Street guideline value

The current guideline value of Thilagar Avenue 4th 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 4th Cross Street has changed

The guideline value for Thilagar Avenue 4th Cross Street has seen 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. This increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for this street in the revisions from 2002 to 2017. The most recent figure reflects a significant increase, positioning it above the median guideline value for Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 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 in this area is Rs 2,750 per sq.ft, making the current guideline value of Thilagar Avenue 4th Cross Street notably higher than the median.

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

Stamp duty and registration fee for property in Thilagar Avenue 4th 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, while the registration fee at 2% would be Rs 66,000. Together, these fees would total 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar Avenue 4th Cross Street?

The Thilagar Avenue 4th Cross Street falls under 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 in determining the stamp duty and registration fees when buying or selling property in Madipakkam-1. It serves as a benchmark for the minimum value at which the property can be registered, ensuring that the government receives the appropriate taxes on property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 4th Cross Street?

The current guideline value of Thilagar Avenue 4th 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 has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Thilagar Avenue 4th Cross Street's current value is above this median.

What fees are associated with property transactions on Thilagar Avenue 4th Cross Street?

For a property valued at the guideline rate, the stamp duty is 7% and the registration fee is 2%. Together, these fees can add significantly to the overall cost of the transaction.

Where can I find the Sub Registrar Office for Thilagar Avenue 4th Cross Street?

The Sub Registrar Office covering Thilagar Avenue 4th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.