Guideline Value for BASIL AVENUE

Basil Avenue guideline value

The current guideline value of Basil Avenue, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Basil Avenue has changed

The guideline value for Basil Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease in the 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decline of 33%. However, the 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the current 2024 revision has further increased it to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

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

• Basil Avenue Extension: 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

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 fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Basil Avenue?

The Sub Registrar Office that covers Basil Avenue 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 details.

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

The guideline value is a critical factor in property transactions within Chitthalapakkam. When registering a property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to understand that the guideline value serves as a benchmark for the transaction, and the fees are calculated on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Basil Avenue?

The current guideline value of Basil Avenue 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Basil Avenue?

Basil Avenue is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

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?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.