Guideline Value for Koushik Avenue 1st Cross Street

Koushik Avenue 1st Cross Street guideline value

The current guideline value for Koushik Avenue 1st Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Koushik Avenue 1st Cross Street has changed

The guideline value for Koushik Avenue 1st Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. The next revision in 2023 saw a significant increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,150 per sq.ft, an increase of 8% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is the same as the current guideline value for Koushik Avenue 1st Cross Street.

• Koushik Avenue: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 3rd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 4th Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 5th Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Koushik Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Koushik Avenue 1st Cross Street?

The Koushik Avenue 1st Cross Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Rajakilpakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the higher of the guideline value or the sale price will be considered for calculating these fees.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is regularly updated, reflecting changes in the local real estate market, and serves as a benchmark for property transactions.

Frequently asked questions

What is the current guideline value of Koushik Avenue 1st Cross Street?

The current guideline value of Koushik Avenue 1st Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Koushik Avenue 1st Cross Street?

Koushik Avenue 1st Cross Street is classified as Residential Class I Type - I.

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 the stamp duty calculated for properties in Koushik Avenue 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 21,50,000 would incur a stamp duty of Rs 1,50,500 at 7%.