Guideline Value for Thilagar Avenue 7th Street

Thilagar Avenue 7th Street guideline value

The current guideline value of Thilagar Avenue 7th 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 7th Street has changed

The guideline value for Thilagar Avenue 7th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value was not recorded for the years mentioned. The 2024 figure of Rs 3,300 per sq.ft is significant as it is above the median value for the 1,823 streets in Madipakkam-1, which has a median of Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft as of the 2024 revision. Thilagar Avenue 7th Street's guideline value is above the median, indicating a higher valuation compared to many other streets in the area.

• Thilagar Avenue 7th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 8th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 8th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 6th Cross Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue 7th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thilagar Avenue 7th Street?

The Thilagar Avenue 7th 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 information.

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

The guideline value is a crucial factor during property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 7th Street?

The current guideline value of Thilagar Avenue 7th 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. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Thilagar Avenue 7th Street?

The land classification for Thilagar Avenue 7th Street is Residential Class I Type - II.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Thilagar Avenue 7th Street?

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