Guideline Value for Tellus Avenue Phase II

Tellus Avenue Phase II guideline value

The current guideline value of Tellus Avenue Phase II is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Tellus Avenue Phase II has changed

The guideline value for Tellus Avenue Phase II has undergone several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes between revisions show a 49% increase from 2017 to 2023, followed by an 8% increase from 2023 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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 for Tellus Avenue Phase II is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Tellus Avenue Phase II?

The Sub Registrar Office that covers Tellus Avenue Phase II 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 in the registration process when buying or selling property in Rajakilpakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

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

The current guideline value of Tellus Avenue Phase II is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,700 per sq.ft in 2024.

What is the land classification for Tellus Avenue Phase II?

Tellus Avenue Phase II is classified as Residential Special Type - I.

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.

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.