Guideline Value for Sri Rishaba Avenue

Sri Rishaba Avenue guideline value

The current guideline value of Sri Rishaba Avenue is Rs 1,900 per sq.ft. This street is located in Rajakilpakkam village under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sri Rishaba Avenue has changed

The guideline value of Sri Rishaba Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly in the 2023 revision to Rs 1,800 per sq.ft, and then further rose to Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register does not have 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 with 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, placing Sri Rishaba Avenue's current value below this median.

• Sri Ranga Avenue: Rs 3,750 per sq.ft (2024)
• Sri Raja Rajeswari Nagar: Rs 1,300 per sq.ft (2024)
• Sri Ragavendra Colony: Rs 850 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 2,700 per sq.ft (2024)
• Sri Yogeshwari Nagar I: Rs 1,300 per sq.ft (2024)
• Sri Yogeshwari Nagar II: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rishaba Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Rishaba Avenue?

Sri Rishaba Avenue falls under 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 the registration process when buying or selling property 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 a property is sold, the buyer must pay stamp duty and registration fees 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 Sri Rishaba Avenue?

The current guideline value of Sri Rishaba Avenue is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 1,800 per sq.ft in 2023 to Rs 1,900 per sq.ft in 2024, a 6% increase. The value has also increased from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, marking a 49% increase.

What is the land classification for Sri Rishaba Avenue?

Sri Rishaba Avenue is classified as Residential Class I Type - II. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for a property in Sri Rishaba Avenue?

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000 and the registration fee is Rs 38,000, totaling Rs 1,71,000. The duty is charged on the higher of the guideline value and the sale price.

Which Sub Registrar Office covers Sri Rishaba Avenue?

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