Guideline Value for Thilagar Avenue,Balaiah Gardern,

Thilagar Avenue,Balaiah Gardern, guideline value

The current guideline value of Thilagar Avenue,Balaiah Gardern, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under Madipakkam-1 village and is classified as Residential Class I Type - I, within the Velacheri SRO.

How the guideline value of Thilagar Avenue,Balaiah Gardern, has changed

The guideline value for Thilagar Avenue,Balaiah Gardern, has seen significant changes over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 further increased the value to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This upward trend indicates the evolving landscape of property values in the 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,Balaiah Gardern, above this median.

• Thilagar AvenueAndavar Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue,Balaiah Nagar: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 9th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue/Bharath Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue Errikkarai Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar Avenue,Balaiah Gardern,

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 costs together to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thilagar Avenue,Balaiah Gardern,?

The Sub Registrar Office that covers Thilagar Avenue,Balaiah Gardern, 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 information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duties. The higher of the two values will be used to calculate the stamp duty, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Thilagar Avenue,Balaiah Gardern?

The current guideline value of Thilagar Avenue,Balaiah Gardern, is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, which is an overall increase of 64%.

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

Other streets in Madipakkam-1 include Thilagar AvenueAndavar Street, Thilagar Avenue,Balaiah Nagar, Thilagar Avenue 9th Street, Thilagar Avenue/Bharath Street, Thilagar Avenue 9th Cross Street, and Thilagar Avenue Errikkarai Main Road, all with a guideline value of Rs 3,300 per sq.ft in 2024.

How is stamp duty calculated for properties in Thilagar Avenue,Balaiah Gardern?

Stamp duty for properties in Thilagar Avenue,Balaiah Gardern, is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.

Where can I find more information about the Sub Registrar Office?

You can find more information about the Sub Registrar Office covering Thilagar Avenue,Balaiah Gardern, at the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further details, you can find your SRO.