Guideline Value for Usha Avenue

Usha Avenue guideline value

The current guideline value of Usha Avenue is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Usha Avenue has changed

The guideline value for Usha Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it was adjusted to Rs 402 per sq.ft, reflecting a decrease of 33%. In the 2023 revision, the value rose to Rs 600 per sq.ft, and the most recent 2024 revision increased it to Rs 880 per sq.ft, marking a significant rise of 47% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 47%. The register does not contain figures for the years 2002, 2003, and 2007 for Usha Avenue.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing Usha Avenue's current value below this median.

• U.V. Saminathan 1st Street: Rs 1,900 per sq.ft (2024)
• U.V. Saminathan 2nd Street: Rs 1,900 per sq.ft (2024)
• Vakboard Colony: Rs 880 per sq.ft (2024)
• Valaiyapathy Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Usha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that 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 details.

Which Sub Registrar Office covers Usha Avenue?

The Sub Registrar Office that covers Usha 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 is a crucial reference point when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a legally recognized price.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain accurate property records.

Frequently asked questions

What is the current guideline value of Usha Avenue?

The current guideline value of Usha Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Usha Avenue?

Usha Avenue is classified as Residential Class IV Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for Usha Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 8,80,000, with a stamp duty of Rs 61,600 and a registration fee of Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Usha 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.