Guideline Value for Shah Avenue

Shah Avenue guideline value

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

How the guideline value of Shah Avenue has changed

The guideline value for Shah Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 2,150 per sq.ft. Notably, there are no figures available for the revisions from 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects an increase of 8%, with the most recent revision showing an 8% rise from the 2023 figure.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, which matches the current guideline value of Shah Avenue.

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

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, and the registration fee at 2% would be Rs 43,000, bringing the total fees together 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shah Avenue?

The Sub Registrar Office that covers Shah Avenue 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the established value of the property rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Shah Avenue?

The current guideline value of Shah Avenue 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 Shah Avenue.

What are the stamp duty and registration fees for property in Shah Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 21,50,000, with stamp duty at Rs 1,50,500 and registration fees at Rs 43,000, totaling Rs 1,93,500.

Which Sub Registrar Office covers Shah Avenue?

The Selaiyur Sub Registrar Office covers Shah Avenue, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.