Guideline Value for Thilagar AvenueAndavar Street

Thilagar AvenueAndavar Street guideline value

The current guideline value of Thilagar AvenueAndavar 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, classified as Residential Class I Type - II.

How the guideline value of Thilagar AvenueAndavar Street has changed

The guideline value for Thilagar AvenueAndavar Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the value further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

There are no figures available for the revisions in 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 AvenueAndavar Street's 2024 figure above that median.

• Thilagar Avenue 9th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue,Balaiah Gardern: Rs 3,850 per sq.ft (2024)
• Thilagar Avenue 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue,Balaiah Nagar: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue 8th Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue/Bharath Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar AvenueAndavar 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 cost for these fees 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar AvenueAndavar Street?

The Sub Registrar Office that covers Thilagar AvenueAndavar 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 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 registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Thilagar AvenueAndavar Street?

The current guideline value for Thilagar AvenueAndavar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the stamp duty rate for properties in Thilagar AvenueAndavar Street?

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

Where is the Sub Registrar Office located for this area?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it covers Thilagar AvenueAndavar Street.

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

Other streets in Madipakkam-1 have varying guideline values, with some streets like Thilagar Avenue 9th Street and Thilagar Avenue 8th Street both valued at Rs 3,300 per sq.ft in 2024, while Thilagar Avenue,Balaiah Gardern is valued higher at Rs 3,850 per sq.ft.