Guideline Value for R.B. Avenue

R.B. Avenue guideline value

The current guideline value of R.B. Avenue in Chembakkam village, under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - III land classification.

How the guideline value of R.B. Avenue has changed

Over the years, the guideline value of R.B. Avenue has seen significant revisions. The 2007 revision recorded a value of Rs 250 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 900%. However, this value decreased to Rs 1,675 per sq.ft in the 2017 revision, a drop of 33%. Following this, the guideline value surged to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase.

The latest revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning R.B. Avenue's 2024 figure above this median.

• R.B.Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 3rd Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 4th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 5th Street: Rs 2,700 per sq.ft (2024)
• R.B.Avenue 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.B. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers R.B. Avenue?

The Sub Registrar Office covering R.B. Avenue 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 Chembakkam

The guideline value is a crucial factor during property transactions in Chembakkam. It serves as the minimum value for registration purposes and helps determine the stamp duty and registration fees applicable on the property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of R.B. Avenue?

The current guideline value of R.B. Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 980% over the years.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam, such as R.B.Avenue 1st Street to R.B.Avenue 6th Street, all have a guideline value of Rs 2,700 per sq.ft for 2024.

What are the stamp duty and registration fees for properties in R.B. Avenue?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total fees would amount to Rs 2,43,000.

Which office handles property registrations for R.B. Avenue?

The Selaiyur Sub Registrar Office handles property registrations for R.B. Avenue, located at No.36, Bharathmatha Salai, Chennai - 600 073.