Guideline Value for R.B.Avenue 3rd Street

R.B.Avenue 3rd Street guideline value

The current guideline value of R.B.Avenue 3rd 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 3rd Street has changed

The guideline value for R.B.Avenue 3rd 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. However, this value saw a decrease to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes are noteworthy. The increase from 2017 to 2023 was +49%, while the jump from 2023 to 2024 was +8%. The earlier change from 2012 to 2017 was a decrease of -33%, and the rise from 2007 to 2012 was a substantial +456%. Overall, from 2007 to 2024, the guideline value has increased by +500%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the 2024 figure for R.B.Avenue 3rd Street above the median.

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

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 cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.B.Avenue 3rd Street?

The Sub Registrar Office that covers R.B.Avenue 3rd 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, 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 plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a reference point for determining the value of the property being bought or sold, ensuring that the transaction is recorded at a fair value in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential to complete the legal transfer of property ownership, and they are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of R.B.Avenue 3rd Street?

The current guideline value of R.B.Avenue 3rd 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 is the land classification for R.B.Avenue 3rd Street?

R.B.Avenue 3rd Street is classified as Residential Class I Type - III.

Where can I find the registration office for R.B.Avenue 3rd Street?

The registration office for R.B.Avenue 3rd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in R.B.Avenue 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty of Rs 1,89,000.