Guideline Value for Koushik Avenue 1st Street

Koushik Avenue 1st Street guideline value

The current guideline value of Koushik Avenue 1st 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 Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,150 per sq.ft in the 2024 revision, representing an increase of 8% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no 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 carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft, with the median being Rs 2,150 per sq.ft. Koushik Avenue 1st Street's 2024 guideline value aligns with this median.

• Koushik Avenue 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue: 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 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 fees together to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Koushik Avenue 1st Street?

The Koushik Avenue 1st Street is covered by 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 Rajakilpakkam

The guideline value is a crucial component in the registration process of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value as per government standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the established guideline value per sq.ft.

Frequently asked questions

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

The current guideline value of Koushik Avenue 1st 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 seen various changes, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,150 per sq.ft in 2024, a rise of 8%. The value has also changed from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, marking a 49% increase.

What is the registration fee for property in Koushik Avenue 1st Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 21,50,000, the registration fee would be Rs 43,000.

Where can I find the Selaiyur SRO?

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 guideline value used in property transactions?

The guideline value is used to determine the minimum price for property registration and to calculate applicable stamp duty and registration fees. It ensures that property transactions are conducted at a value that aligns with government standards.