Guideline Value for Koushik Avenue

Koushik Avenue guideline value

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

The guideline value for Koushik Avenue has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,150 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 2,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 8%. Notably, there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, which aligns with the current guideline value for Koushik Avenue.

• Koushik Avenue 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 3rd 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)

Stamp duty and registration fee for property in Koushik Avenue

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, totaling 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?

Koushik Avenue 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. You can find your SRO for further assistance.

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 the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall transaction costs. Buyers should consider this value to understand the financial implications of their purchase and ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Koushik Avenue?

The current guideline value of Koushik Avenue 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 back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam with a guideline value of Rs 2,150 per sq.ft include Koushik Avenue 1st Cross Street, Koushik Avenue 1st Street, Koushik Avenue 2nd Street, Koushik Avenue 3rd Street, Koushik Avenue 4th Street, and Koushik Avenue 5th Street.

What is the stamp duty for a property in Koushik Avenue?

The stamp duty for a property in Koushik Avenue is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 1,50,500.

Which office handles property registration for Koushik Avenue?

The Selaiyur Sub Registrar Office handles property registration for Koushik Avenue, located at No.36, Bharathmatha Salai, Chennai.