Guideline Value for Koushik Avenue Ext I

Koushik Avenue Ext I guideline value

The current guideline value of Koushik Avenue Ext I is Rs 2,150 per sq.ft, effective from 1 July 2024. This property 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 Ext I has changed

The guideline value for Koushik Avenue Ext I has undergone 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. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,150 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register does not have figures for Koushik Avenue Ext I for the years 2002, 2003, and 2007. 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 the same as the guideline value for Koushik Avenue Ext I.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value is 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, these fees would total 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Koushik Avenue Ext I?

The Sub Registrar Office that covers Koushik Avenue Ext I is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures transparency in property transactions.

Frequently asked questions

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

The current guideline value of Koushik Avenue Ext I 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, and then increased to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set it at Rs 2,150 per sq.ft.

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 Sub Registrar Office handles registrations for Koushik Avenue Ext I?

The Selaiyur Sub Registrar Office handles registrations for Koushik Avenue Ext I, located at No.36, Bharathmatha Salai, Chennai - 600 073.

What is the land classification for Koushik Avenue Ext I?

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