Guideline Value for Kousik Avenue

Kousik Avenue guideline value

The current guideline value of Kousik Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Kousik Avenue has changed

The guideline value for Kousik Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision further increased it to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in the village is Rs 1,650 per sq.ft, placing Kousik Avenue's 2024 figure above this median.

• Kirupanandavariyar Street: Rs 1,650 per sq.ft (2024)
• Krishnan Street: Rs 1,650 per sq.ft (2024)
• Kennedy St: Rs 1,650 per sq.ft (2024)
• Kulakkarai street: Rs 1,650 per sq.ft (2024)
• Kaviarasu Kannadasan Street: Rs 1,650 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kousik Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to 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 more details on fees applicable to your property.

Which Sub Registrar Office covers Kousik Avenue?

Kousik Avenue falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kousik Avenue?

The current guideline value of Kousik Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the land classification for Kousik Avenue?

Kousik Avenue is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Kousik Avenue?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Kousik Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Kousik Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.