Guideline Value for Sha Avenue 5th Street

Sha Avenue 5th Street guideline value

The current guideline value of Sha Avenue 5th Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sha Avenue 5th Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure was then revised to Rs 1,340 per sq.ft in 2017, marking a decrease of 33%. The subsequent revision in 2023 saw an increase to Rs 2,000 per sq.ft, followed by the current figure of Rs 2,150 per sq.ft in 2024, reflecting an 8% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. Notably, the jump from 2017 to 2023 was significant, with a 49% rise in the guideline value. The changes highlight the fluctuations in the guideline values over the years.

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, with a median value of Rs 2,150 per sq.ft. The guideline value for Sha Avenue 5th Street is equal to this median.

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

Stamp duty and registration fee for property in Sha Avenue 5th 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 amount to Rs 1,50,500, while the registration fee at 2% would be Rs 43,000. Together, these fees would total 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sha Avenue 5th Street?

The Sub Registrar Office that covers Sha Avenue 5th 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 details.

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

The guideline value is a critical factor when registering a property in Rajakilpakkam. It serves as a benchmark for determining the minimum price at which a property can be registered and affects the calculation of stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are conducted transparently and fairly. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sha Avenue 5th Street?

The current guideline value of Sha Avenue 5th 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 seen various changes, from Rs 2,000 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,150 in 2024.

What is the land classification for Sha Avenue 5th Street?

Sha Avenue 5th Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Sha Avenue 5th Street?

The Selaiyur Sub Registrar Office covers Sha Avenue 5th Street 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would have a total stamp duty of Rs 1,50,500.