Guideline Value for Thilagar Avenue,Balaiah Nagar,

Thilagar Avenue,Balaiah Nagar, guideline value

The current guideline value for Thilagar Avenue, Balaiah Nagar, 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,Balaiah Nagar, has changed

The guideline value for Thilagar Avenue, Balaiah Nagar, has undergone several revisions since 2017. The 2017 revision set the value at Rs 2,010 per sq.ft. Following this, the 2023 revision increased it to Rs 3,000 per sq.ft, marking a significant rise of 49%. The most recent 2024 revision has further raised the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

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 Nagar, above the median value.

• Thilagar Avenue,Balaiah Gardern: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue/Bharath Street: Rs 3,300 per sq.ft (2024)
• Thilagar AvenueAndavar Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue Errikkarai Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 9th Street: Rs 3,300 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,Balaiah Nagar,

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, leading to a total of Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering Thilagar Avenue, Balaiah Nagar, 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 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 the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Thilagar Avenue, Balaiah Nagar, is Rs 3,300 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 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, and Thilagar Avenue, Balaiah Nagar, is above this median.

What are the stamp duty rates for properties in Thilagar Avenue,Balaiah Nagar,?

The stamp duty rate for properties in Thilagar Avenue, Balaiah Nagar, is 7% of the guideline value or sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

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