Guideline Value for Sha Avenue 1st Street

Sha Avenue 1st Street guideline value

The current guideline value of Sha Avenue 1st 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 Street has changed

The guideline value for Sha Avenue 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,150 per sq.ft in 2024, marking an 8% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, which is equal to the guideline value of Sha Avenue 1st Street.

• Sha Avenue 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be 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, making the total cost Rs 1,93,500. Please note that 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 Sha Avenue 1st Street?

The Sub Registrar Office that covers Sha Avenue 1st 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 in property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating the sale price of a property.

At the time of registration, stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Sha Avenue 1st Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the classification of Sha Avenue 1st Street?

Sha Avenue 1st Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sha Avenue 1st 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 21,50,000.