Guideline Value for Rajkumar Avenue

Rajkumar Avenue guideline value

The current guideline value of Rajkumar Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rajkumar Avenue has changed

The guideline value for Rajkumar Avenue has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Rajkumar Avenue's 2024 figure below the median.

• Rajeswari Nagar Vijayalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Vidhyalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Varalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Thairialakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Santhanalakshmi Street: Rs 3,500 per sq.ft (2024)
• Rajeswari Nagar Main Road: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rajkumar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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.

Which Sub Registrar Office covers Rajkumar Avenue?

The Sub Registrar Office that covers Rajkumar 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 Selaiyur

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rajkumar Avenue?

The current guideline value of Rajkumar Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Rajkumar Avenue?

Rajkumar Avenue is classified as Residential Class II Type - II.

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

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Rajkumar Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.