Guideline Value for Thilagar Avenue 5th cross Street

Thilagar Avenue 5th cross Street guideline value

The current guideline value of Thilagar Avenue 5th 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. The land classification for this area is Residential Class I Type - II.

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

According to the guideline value register, there are no figures available for Thilagar Avenue 5th cross Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, and this increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the guideline value, moving from Rs 3,000 in 2023 to Rs 3,300 in 2024. The latest figure indicates a growing valuation for properties in this locality.

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 the area is Rs 2,750 per sq.ft, placing Thilagar Avenue 5th cross Street above this median.

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

Stamp duty and registration fee for property in Thilagar Avenue 5th 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, charged 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 duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thilagar Avenue 5th cross Street?

The Sub Registrar Office that covers Thilagar Avenue 5th 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

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

The current guideline value of Thilagar Avenue 5th 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 Thilagar Avenue 5th cross Street was Rs 3,000 per sq.ft in 2023, which increased by 10% 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 median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Thilagar Avenue 5th cross Street's guideline value is above this median.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Thilagar Avenue 5th cross Street located?

The Velacheri Sub Registrar Office, which covers Thilagar Avenue 5th cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.