Guideline Value for Saroj Avenue

Saroj Avenue guideline value

The current guideline value of Saroj Avenue, located in Rajakilpakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Saroj Avenue has changed

Over the years, the guideline value of Saroj Avenue has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,600 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 7% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO with guideline values for 2024 ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, making Saroj Avenue's 2024 figure of Rs 1,600 per sq.ft below the median.

• Saravana Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Saravana Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Saroj 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, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Therefore, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Saroj Avenue?

The Sub Registrar Office that covers Saroj 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 Rajakilpakkam

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

When buying or selling a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Saroj Avenue?

The current guideline value of Saroj 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 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 Saroj Avenue?

Saroj Avenue is classified as Residential Class II Type - I.

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

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

How is the stamp duty calculated for properties in Saroj Avenue?

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