Guideline Value for R.B.Avenue 2nd Street

R.B.Avenue 2nd Street guideline value

The current guideline value of R.B.Avenue 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of R.B.Avenue 2nd Street has changed

The guideline value for R.B.Avenue 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a notable increase of 456%. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,700 per sq.ft in 2024, an increase of 8%.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 500%. It is also important to note that 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 that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of R.B.Avenue 2nd Street is above this median.

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

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.B.Avenue 2nd Street?

The Sub Registrar Office that covers R.B.Avenue 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 registration in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value assigned to the property. This value is used to calculate the stamp duty and registration fees, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of R.B.Avenue 2nd Street?

The current guideline value of R.B.Avenue 2nd Street 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 from Rs 450 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 500% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for R.B.Avenue 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for R.B.Avenue 2nd Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the stamp duty and registration fees during property transactions.