Guideline Value for Thilagar Avenue 6th Street

Thilagar Avenue 6th Street guideline value

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

The guideline value for Thilagar Avenue 6th Street has undergone several revisions over the years. The register has no figure for this street 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, which 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. The current figure of Rs 3,300 per sq.ft is reflective of the latest update and indicates a significant increase in the guideline value.

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 this village is Rs 2,750 per sq.ft, positioning Thilagar Avenue 6th Street above this median.

• Thilagar Avenue 6th Cross Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 7th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 5th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 8th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 6th 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 to 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar Avenue 6th Street?

The Sub Registrar Office that covers Thilagar Avenue 6th 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 critical factor when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that transactions are recorded at a fair value.

During the registration process, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the transaction.

Frequently asked questions

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

The current guideline value of Thilagar Avenue 6th 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, representing a +10% increase. There are no recorded figures for this street 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 6th Street's current guideline value is above this median.

Where can I find the Sub Registrar Office for Thilagar Avenue 6th Street?

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

How is the stamp duty calculated for properties in Thilagar Avenue 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.