Guideline Value for Thilagar Avenue 6th Cross Street

Thilagar Avenue 6th Cross Street guideline value

The current guideline value of Thilagar Avenue 6th 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 6th Cross Street has changed

The guideline value for Thilagar Avenue 6th Cross Street has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

This increase reflects a change from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. The current rate is above the median guideline value of Rs 2,750 per sq.ft for Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft in 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value. The values range from Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Thilagar Avenue 6th Cross Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Thilagar Avenue 5th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Cross Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 5th cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 7th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 6th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

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

The Sub Registrar Office covering Thilagar Avenue 6th 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 details.

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

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps establish a baseline for the transaction. It is important to note that the duty is charged on the higher of the guideline value or the sale price, which safeguards the interests of the state in property transactions.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street has undergone revisions, with the 2023 figure being Rs 3,000 per sq.ft. The 2024 revision increased this value by 10% to Rs 3,300 per sq.ft.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For instance, Thilagar Avenue 6th Cross Street, Balaiah Garden is valued at Rs 3,850 per sq.ft, while several other streets are at Rs 3,300 per sq.ft.

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

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

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, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.