Guideline Value for R.B.Avenue 7th Street

R.B.Avenue 7th Street guideline value

The current guideline value of R.B.Avenue 7th 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 7th Street has changed

Over the years, the guideline value of R.B.Avenue 7th Street has seen significant changes. The 2007 revision set the value at Rs 450 per sq.ft, which rose dramatically to Rs 2,500 per sq.ft in the 2012 revision, marking an increase of 456%. However, this was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, a decline of 33%. The value then increased substantially to Rs 2,500 per sq.ft in the 2023 revision, and finally, it reached Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a remarkable increase of 500%. The register does not contain 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 carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing R.B.Avenue 7th Street above this median.

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

Stamp duty and registration fee for property in R.B.Avenue 7th 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 more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.B.Avenue 7th Street?

The Sub Registrar Office that covers R.B.Avenue 7th 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 details.

How the guideline value is used when you buy or sell in Chembakkam

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of R.B.Avenue 7th Street?

The current guideline value of R.B.Avenue 7th 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, reflecting an overall increase of 500% over the years.

What is the median guideline value for streets in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, with R.B.Avenue 7th Street being above this median at Rs 2,700 per sq.ft.

What are the stamp duty and registration fees for property in R.B.Avenue 7th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000, resulting in a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for R.B.Avenue 7th Street?

The Selaiyur Sub Registrar Office handles registrations for R.B.Avenue 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.