Guideline Value for Tellus Avenue

Tellus Avenue guideline value

The current guideline value of Tellus Avenue in Madambakkam village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Tellus Avenue has changed

Looking at the revisions, the first registered figure for Tellus Avenue was Rs 1,600 per sq.ft in the 2012 revision. From 2012 to 2024, the guideline value increased by 6%, reaching the current figure of Rs 1,700 per sq.ft. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the only revisions with figures are from 2012 and 2024, showing a modest increase in the guideline value over that period. The absence of figures for the other years indicates that no changes were recorded for Tellus Avenue during those times.

Guideline values in Madambakkam

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

• Tellus Avenue Phase 1: Rs 2,700 per sq.ft (2024)
• Tellus Avenue Phase 2: Rs 2,750 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tellus Avenue?

The Sub Registrar Office covering 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 Madambakkam

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property, the guideline value serves as a benchmark for both parties. It ensures that the transaction is recorded at a value that reflects the official assessment, which helps in maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Tellus Avenue?

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

How has the guideline value changed over the years?

The guideline value for Tellus Avenue was Rs 1,600 per sq.ft in 2012 and increased to Rs 1,700 per sq.ft in 2024, marking a 6% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. The guideline value of Tellus Avenue is below this median.

What are the stamp duty and registration fees for property in Tellus Avenue?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Tellus Avenue 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 covers the registration for Tellus Avenue.