Guideline Value for Koushik Avenue 4th Street

Koushik Avenue 4th Street guideline value

The current guideline value of Koushik Avenue 4th 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 4th Street has changed

The guideline value for Koushik Avenue 4th Street has seen several revisions over the years. In 2012, 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. The value then increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% increase from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 2,150 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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. The median guideline value for these streets is Rs 2,150 per sq.ft, which is equal to the current guideline value of Koushik Avenue 4th Street.

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

Stamp duty and registration fee for property in Koushik Avenue 4th 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 cost for stamp duty and registration fees 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Koushik Avenue 4th Street?

The Koushik Avenue 4th 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, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Rajakilpakkam. It is the minimum value set by the government for the purpose of registration, ensuring that properties are not sold below this value. When a buyer and seller agree on a sale price, the registration office will consider the guideline value to calculate the applicable stamp duty and registration fees.

It is essential for both buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Ensuring that the sale price is in line with the guideline value can help in a smoother registration process.

Frequently asked questions

What is the current guideline value of Koushik Avenue 4th Street?

The current guideline value of Koushik Avenue 4th 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 increased 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 4th Street?

Koushik Avenue 4th Street is classified as Residential Class I Type - I.

Which Sub Registrar Office handles the registration for Koushik Avenue 4th Street?

The Selaiyur Sub Registrar Office handles the registration for Koushik Avenue 4th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in Koushik Avenue 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 at a rate of 7%.