Guideline Value for Sekar Avenue

Sekar Avenue guideline value

The current guideline value of Sekar Avenue is Rs 2,750 per sq.ft. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sekar Avenue has changed

The guideline value for Sekar Avenue has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. In 2017, this value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a 49% rise. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Sekar Avenue from the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, 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 Sekar Avenue's 2024 figure above this median.

• Selaiyur Hall: Rs 1,600 per sq.ft (2024)
• Seliyur Eswari Nagar Ext: Rs 2,400 per sq.ft (2024)
• Seliyur Kulakari Street Ext: Rs 1,400 per sq.ft (2024)
• Seliyur & Rajakilpakam Ganesh Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Selvam Nagar: Rs 950 per sq.ft (2024)
• Secratoriyam Colony: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sekar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sekar Avenue?

The Sub Registrar Office that covers Sekar 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 details.

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

The guideline value is an essential factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value is utilized to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sekar Avenue?

The current guideline value of Sekar Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 2,500 per sq.ft in 2012, dropping to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,500 per sq.ft in 2023, before reaching Rs 2,750 per sq.ft in 2024.

What is the land classification for Sekar Avenue?

Sekar Avenue is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property in Sekar Avenue?

The stamp duty rate for property transactions in Sekar Avenue is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sekar Avenue located?

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