Guideline Value for Tellus Avenue

Tellus Avenue guideline value

The current guideline value of Tellus Avenue is Rs 2,650 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Tellus Avenue has changed

The guideline value for Tellus Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally to Rs 2,650 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The changes between the revisions are as follows: from 2017 to 2023, there was a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Tellus Avenue's 2024 figure above that median.

• Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• Sriram Street: Rs 1,600 per sq.ft (2024)
• Sri Hanuman Nagar: Rs 860 per sq.ft (2024)
• Velacheri Main Road: Rs 3,750 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Tellus Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,650 per sq.ft, the guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, totaling Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tellus Avenue?

The Sub Registrar Office that covers Tellus 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 Gowrivakkam

The guideline value plays a crucial role during the registration of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Tellus Avenue?

The current guideline value of Tellus Avenue is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,650 per sq.ft in 2024.

What is the land classification for Tellus Avenue?

Tellus Avenue is classified as Residential Class I Type - III.

What are the stamp duty rates for properties in Tellus Avenue?

The stamp duty for properties in Tellus Avenue is calculated at 7% of the guideline value or sale price, whichever is higher.

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.