Guideline Value for Thilagar Avenue 5th Street

Thilagar Avenue 5th Street guideline value

The current guideline value for Thilagar Avenue 5th Street in Madipakkam-1 village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Thilagar Avenue 5th Street has changed

The guideline value for Thilagar Avenue 5th Street has seen changes over the years, with the most recent revision in 2024 setting the value at Rs 3,300 per sq.ft, a 10% increase from Rs 3,000 per sq.ft in the 2023 revision. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2023 revision recorded a guideline value of Rs 3,000 per sq.ft. Prior to that, there are no figures available for the years listed, indicating a lack of recorded changes for this street in those years.

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 in this area is Rs 2,750 per sq.ft, placing Thilagar Avenue 5th Street's 2024 figure above the median.

• Thilagar Avenue 5th cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Cross Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 5th 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 cost to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar Avenue 5th Street?

The Thilagar Avenue 5th 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 during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is sold, the guideline value helps ensure that the registration fees are calculated fairly and transparently, based on the official rates set by the Registration Department.

Frequently asked questions

What is the current guideline value for Thilagar Avenue 5th Street?

The current guideline value for Thilagar Avenue 5th 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, marking a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Thilagar Avenue 5th Street?

Thilagar Avenue 5th Street is classified as Residential Class I Type - II under the guideline value register.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 2,97,000 in fees.

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 the registration of properties in the area.