Guideline Value for Tholkappiar Avenue

Tholkappiar Avenue guideline value

The current guideline value of Tholkappiar Avenue is Rs 1,650 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 II Type - II.

How the guideline value of Tholkappiar Avenue has changed

The guideline value for Tholkappiar Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 saw a further increase to Rs 1,650 per sq.ft, marking a 10% rise from the previous year. The overall increase from the 2017 revision to the 2024 revision is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 to 2024 change of 10% follows a significant rise of 49% from 2017 to 2023, reflecting the changing landscape of guideline values in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a guideline value for 2024 ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Tholkappiar Avenue's 2024 figure below this median.

• Thiruvalluvar Street Extn (Ayyan): Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Street (Ayyan): Rs 2,200 per sq.ft (2024)
• Thiruvalluvar salai: Rs 1,650 per sq.ft (2024)
• T.R.Balu Street: Rs 2,200 per sq.ft (2024)
• Thirupukazh Street: Rs 3,850 per sq.ft (2024)
• Ullagaram Adithiravidar Colony Mayana Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Tholkappiar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tholkappiar Avenue?

The Sub Registrar Office that covers Tholkappiar Avenue 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 further assistance.

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, ensuring that these fees are calculated fairly based on the property's value.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Tholkappiar Avenue?

The current guideline value of Tholkappiar Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, representing a total increase of 64% over this period.

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

Other streets in Madipakkam-1 include Thiruvalluvar Street Extn (Ayyan) and Thiruvalluvar Street (Ayyan), both at Rs 2,200 per sq.ft, and Thiruvalluvar salai at Rs 1,650 per sq.ft.

How is the stamp duty calculated for properties in Tholkappiar Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,15,500.

Where can I find the Sub Registrar Office for Tholkappiar Avenue?

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