Guideline Value for Thilagar Avenue 6th Cross Street, Balaiah Garden

Thilagar Avenue 6th Cross Street, Balaiah Garden guideline value

The current guideline value of Thilagar Avenue 6th Cross Street, Balaiah Garden is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Madipakkam-1 village and is classified as Residential Class I Type - I. The registration office for this area is the Velacheri SRO.

How the guideline value of Thilagar Avenue 6th Cross Street, Balaiah Garden has changed

The guideline value for Thilagar Avenue 6th 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 2023, the guideline value was Rs 3,500 per sq.ft, and it increased by 10% to Rs 3,850 per sq.ft in 2024.

This increase reflects the adjustments made in the guideline value register, with the current figure being the highest recorded for this street. The 2023 revision marked a notable change from the previous year, indicating a shift in the valuation for property in this area.

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 6th Cross Street's 2024 figure above this median.

• Thilagar Avenue 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 5th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 5th cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 6th Cross Street, Balaiah Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar Avenue 6th Cross Street, Balaiah Garden?

The Thilagar Avenue 6th Cross Street, Balaiah Garden is covered by 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 the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 6th Cross Street?

The current guideline value of Thilagar Avenue 6th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Thilagar Avenue 6th Cross Street?

Thilagar Avenue 6th Cross Street is classified as Residential Class I Type - I. This classification is important for determining the guideline value and property regulations.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Which office handles the registration for Thilagar Avenue 6th Cross Street?

The Velacheri Sub Registrar Office handles the registration for Thilagar Avenue 6th Cross Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.