Guideline Value for Koushik Avenue 3rd Street

Koushik Avenue 3rd Street guideline value

The current guideline value of Koushik Avenue 3rd Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Koushik Avenue 3rd Street has changed

The guideline value for Koushik Avenue 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision has raised it to Rs 2,150 per sq.ft, marking an 8% increase from the previous year. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 8%. The significant change was observed between the 2017 and 2023 revisions, where the value increased by 49% from Rs 1,340 per sq.ft to Rs 2,000 per sq.ft.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO that carry a guideline value for 2024, 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 3rd Street.

• Koushik Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd 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)
• Koushik Avenue 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext I: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Koushik Avenue 3rd Street

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

Which Sub Registrar Office covers Koushik Avenue 3rd Street?

The Koushik Avenue 3rd 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 factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. The registration process will require adherence to the guideline value, which can influence negotiations between parties involved in the sale.

Frequently asked questions

What is the current guideline value of Koushik Avenue 3rd Street?

The current guideline value of Koushik Avenue 3rd 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 undergone several revisions, with the most recent increase of 8% from Rs 2,000 per sq.ft in 2023 to Rs 2,150 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What is the land classification for Koushik Avenue 3rd Street?

The land classification for Koushik Avenue 3rd Street is Residential Class I Type - I. This classification influences the guideline value and property usage in the area.

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. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Koushik Avenue 3rd Street?

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 amount to Rs 1,50,500.