Guideline Value for TELLUS AVENUE PHASE 2

Tellus Avenue Phase 2 guideline value

The current guideline value of Tellus Avenue Phase 2 is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Tellus Avenue Phase 2 has changed

The guideline value for Tellus Avenue Phase 2 has undergone several revisions over the years. In the 2017 revision, the value was Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The 2023 revision also reflects a 10% increase from the previous year, indicating a notable change in the guideline value for this property.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Tellus Avenue Phase 2 is above this median.

• Tellus Avenue Phase 1: Rs 2,700 per sq.ft (2024)
• Tellus Avenue: Rs 1,700 per sq.ft (2024)
• Thai Seai Nala Viduthi: Rs 1,100 per sq.ft (2024)
• Thambaiya Reddy Colony: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony 2nd Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Tellus Avenue Phase 2

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, amounts to Rs 1,92,500, while the registration fee at 2% is Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tellus Avenue Phase 2?

The Sub Registrar Office that covers Tellus Avenue Phase 2 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 Madambakkam

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Tellus Avenue Phase 2?

The current guideline value of Tellus Avenue Phase 2 is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Tellus Avenue Phase 2 has changed from Rs 2,500 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. The value remained unchanged at Rs 2,500 per sq.ft in the 2023 revision.

What is the land classification for Tellus Avenue Phase 2?

The land classification for Tellus Avenue Phase 2 is Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,47,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles registrations for properties in the area.