Guideline Value for Sha Avenue 1st Cross Street

Sha Avenue 1st Cross Street guideline value

The current guideline value of Sha Avenue 1st Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sha Avenue 1st Cross Street has changed

Looking at the historical revisions, the guideline value for Sha Avenue 1st Cross Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,150 per sq.ft in the 2024 revision, marking an increase of 8%. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, which shows a significant increase of 49% to reach the 2023 figure. The register has no figures for the years 2002, 2003, and 2007.

In 2012, the value was recorded at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017, resulting in a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been an increase of 8%, with the current value aligning with the median of Rs 2,150 per sq.ft for the village.

Guideline values in Rajakilpakkam

Rajakilpakkam has a total of 384 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median value is Rs 2,150 per sq.ft, which is the same as the guideline value for Sha Avenue 1st Cross Street.

• Sha Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 3rd Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 4th Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 5th Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue Extn.I: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sha Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sha Avenue 1st Cross Street?

The Sub Registrar Office that covers Sha Avenue 1st Cross 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 Rajakilpakkam

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal recognition of the transaction. This ensures that both buyers and sellers are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Sha Avenue 1st Cross Street?

The current guideline value of Sha Avenue 1st Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,150 per sq.ft in 2024, an increase of 8%.

What is the land classification for Sha Avenue 1st Cross Street?

Sha Avenue 1st Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

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 Rajakilpakkam?

Stamp duty for properties in Rajakilpakkam is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.