Guideline Value for Tan Avenue

Tan Avenue guideline value

The current guideline value of Tan Avenue, located in Rajakilpakkam village, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Tan Avenue has changed

Over the years, the guideline value of Tan Avenue has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision saw a further increase to Rs 1,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 6% from 2023 to 2024. From 2017 to 2023, the increase was significant at 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 6%.

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 of Tan Avenue is below this median.

• Tellus Avenue: Rs 2,700 per sq.ft (2024)
• Tellus Avenue Phase I: Rs 4,000 per sq.ft (2024)
• Tellus Avenue Phase II: Rs 2,700 per sq.ft (2024)
• Tellus Avenue Phase II Extension: Rs 2,700 per sq.ft (2024)
• Sundar Colony: Rs 1,300 per sq.ft (2024)
• Sundar Avenue: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Tan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, these fees would total 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Tan Avenue?

The Sub Registrar Office that covers Tan 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 more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Rajakilpakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing a property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tan Avenue?

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

How has the guideline value of Tan Avenue changed over the years?

The guideline value of Tan Avenue has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the guideline values of other streets in Rajakilpakkam?

Other streets in Rajakilpakkam have varying guideline values, with rates ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft.

What fees are associated with buying property in Tan Avenue?

When buying property in Tan Avenue, buyers must pay stamp duty at 7% of the guideline value and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Tan Avenue located?

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