Guideline Value for Koushik Avenue Ext III

Koushik Avenue Ext III guideline value

The current guideline value of Koushik Avenue Ext III is Rs 2,150 per sq.ft. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Koushik Avenue Ext III has changed

The guideline value for Koushik Avenue Ext III has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This figure remained the same until 2017, when it dropped to Rs 1,340 per sq.ft. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,150 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The recent change from 2023 to 2024 reflects an 8% increase. Overall, comparing the 2012 figure to the 2024 figure, there has been an increase of 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. The median guideline value is Rs 2,150 per sq.ft, which is equal to the current value of Koushik Avenue Ext III.

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

Stamp duty and registration fee for property in Koushik Avenue Ext III

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 to Rs 1,93,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Koushik Avenue Ext III?

The Koushik Avenue Ext III 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 plays a crucial role when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Koushik Avenue Ext III?

The current guideline value of Koushik Avenue Ext III 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 and the registration fee would be Rs 43,000, totaling Rs 1,93,500.

Which office handles the registration for Koushik Avenue Ext III?

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

What is the land classification for Koushik Avenue Ext III?

Koushik Avenue Ext III is classified as Residential Class I Type - I, indicating its suitability for residential development.