Guideline Value for Koushik Avenue 5th Street

Koushik Avenue 5th Street guideline value

The current guideline value of Koushik Avenue 5th 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 5th Street has changed

Over the years, the guideline value for Koushik Avenue 5th Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 2,150 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The 2012 revision had a value of Rs 2,000 per sq.ft, indicating a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register has no figures for Koushik Avenue 5th Street for the years 2002, 2003, and 2007. This absence of data indicates that the street did not have a registered guideline value during those revisions.

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 value is Rs 2,150 per sq.ft, which is equal to the guideline value for Koushik Avenue 5th Street.

• Koushik Avenue 4th Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext I: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 3rd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext II: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue Ext III: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Koushik Avenue 5th Street

For a 1,000 sq.ft plot at the current rate, the 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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Koushik Avenue 5th Street?

The Sub Registrar Office that covers Koushik Avenue 5th Street 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 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 serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value as per government regulations.

When you proceed with a property transaction, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures transparency and compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Koushik Avenue 5th Street?

The current guideline value of Koushik Avenue 5th 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 several changes, with the most recent revision in 2024 showing an increase from Rs 2,000 per sq.ft in 2023. The value has increased by 49% from 2017 to 2023 and decreased by 33% from 2012 to 2017.

What is the land classification for Koushik Avenue 5th Street?

Koushik Avenue 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the registration office for Koushik Avenue 5th Street?

The registration office for Koushik Avenue 5th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Koushik Avenue 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 1,93,500.