Guideline Value for Sha Avenue Extn.I

Sha Avenue Extn.I guideline value

The current guideline value of Sha Avenue Extn.I 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 Extn.I has changed

The guideline value for Sha Avenue Extn.I has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, and the latest 2024 revision raised it further to Rs 2,150 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 8% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have 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 of Sha Avenue Extn.I matches this median.

• Sha Avenue 5th Street: Rs 2,150 per sq.ft (2024)
• Sha Avenue 4th Street: Rs 2,150 per sq.ft (2024)
• Shah Avenue: 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)
• Sha Avenue 1st Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sha Avenue Extn.I

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 higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sha Avenue Extn.I?

The Sub Registrar Office that covers Sha Avenue Extn.I 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 during property registration in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sha Avenue Extn.I?

The current guideline value of Sha Avenue Extn.I 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 increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, which is the same as the current guideline value for Sha Avenue Extn.I.

What fees are associated with buying property in Sha Avenue Extn.I?

When buying property in Sha Avenue Extn.I, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sha Avenue Extn.I?

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