Guideline Value for Tellus Avenue

Tellus Avenue guideline value

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

How the guideline value of Tellus Avenue has changed

Over the years, the guideline value of Tellus Avenue has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

In summary, the guideline value has increased by 49% from 2017 to 2023, and from 2012 to 2024, there has been an overall increase of 8%. The current value of Rs 2,700 per sq.ft is above the median value of Rs 2,150 per sq.ft for the 384 streets in Rajakilpakkam under the Selaiyur SRO.

Guideline values in Rajakilpakkam

In Rajakilpakkam, the guideline values range from Rs 850 to Rs 5,000 per sq.ft as of 2024. Tellus Avenue's guideline value is positioned above the median value of Rs 2,150 per sq.ft. Below are the guideline values for other streets in Rajakilpakkam:

• 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)
• 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

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

You can use our stamp duty and registration fee calculator for more detailed calculations.

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, within 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 when it comes to property transactions in Rajakilpakkam. It determines the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Tellus Avenue?

The current guideline value of Tellus Avenue is Rs 2,700 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 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the land classification of Tellus Avenue?

Tellus Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

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 properties in Tellus Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 1,89,000.