Guideline Value for Thilagar Avenue 8th Street

Thilagar Avenue 8th Street guideline value

The current guideline value of Thilagar Avenue 8th 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Thilagar Avenue 8th Street has changed

The guideline value for Thilagar Avenue 8th Street has seen changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was 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 figures available for the years mentioned. The most recent revision reflects a significant update in the guideline value, aligning it with the current real estate landscape in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, placing Thilagar Avenue 8th Street above this median.

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

Stamp duty and registration fee for property in Thilagar Avenue 8th 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. 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 8th Street?

The Sub Registrar Office that covers Thilagar Avenue 8th 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 in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Thilagar Avenue 8th Street?

The current guideline value of Thilagar Avenue 8th 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a change of +10%. 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, with Thilagar Avenue 8th Street's value being above this median.

What fees are applicable when registering property in Thilagar Avenue 8th Street?

When registering property, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thilagar Avenue 8th Street?

The Velacheri Sub Registrar Office covers Thilagar Avenue 8th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.