Guideline Value for BASIL AVENUE EXTENSION

Basil Avenue Extension guideline value

The current guideline value of Basil Avenue Extension in Chitthalapakkam village, under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Basil Avenue Extension has changed

The guideline value for Basil Avenue Extension has seen several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to Rs 3,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, placing Basil Avenue Extension above this median.

• Basil Avenue: Rs 3,300 per sq.ft (2024)
• Balm Avenue: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,950 per sq.ft (2024)
• Blossom: Rs 2,900 per sq.ft (2024)
• Buvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• C.B.O.A Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Basil Avenue Extension

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, charged at 7%, amounts to Rs 2,31,000, while the registration fee at 2% is Rs 66,000. Together, the total cost for stamp duty and registration would be 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 Basil Avenue Extension?

The Sub Registrar Office that covers Basil Avenue Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chitthalapakkam

The guideline value is a crucial factor when registering property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees you are required to pay. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Basil Avenue Extension?

The current guideline value for Basil Avenue Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Basil Avenue Extension?

The land classification for Basil Avenue Extension is Residential Special Type - III.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Basil Avenue Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.