Guideline Value for Sha Avenue 2nd Street

Sha Avenue 2nd Street guideline value

The current guideline value of Sha Avenue 2nd Street is Rs 2,150 per sq.ft. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Sha Avenue 2nd Street has changed

The guideline value for Sha Avenue 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,150 per sq.ft, an increase of 8% from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, marking a significant increase of 49% from the previous 2023 figure. The 2012 revision also noted a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. This lack of data means that the first recorded value for Sha Avenue 2nd Street is from the 2012 revision.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 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 guideline value for these streets is Rs 2,150 per sq.ft, which is equal to the current guideline value of Sha Avenue 2nd Street.

• Sha Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 3rd Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 1st Cross 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,150 per sq.ft, the 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, totaling Rs 1,93,500. It is important to note that 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 details.

Which Sub Registrar Office covers Sha Avenue 2nd Street?

The Sub Registrar Office that covers Sha Avenue 2nd 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, as it determines the minimum value at which a property can be registered. When a property is bought or sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The duty is charged based on the higher of the two values, ensuring that the government receives the appropriate fees during the registration process.

Frequently asked questions

What is the current guideline value of Sha Avenue 2nd Street?

The current guideline value of Sha Avenue 2nd Street is Rs 2,150 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

Since 2012, 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 land classification for Sha Avenue 2nd Street?

Sha Avenue 2nd Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in Sha Avenue 2nd Street?

For a property valued at Rs 21,50,000, the stamp duty is Rs 1,50,500 at 7%, and the registration fee is Rs 43,000 at 2%, totaling Rs 1,93,500.

Which office handles registrations for Sha Avenue 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Sha Avenue 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.