Guideline Value for Dasaratha Avenue

Dasaratha Avenue guideline value

The current guideline value of Dasaratha Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Dasaratha Avenue has changed

The guideline value for Dasaratha Avenue has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Dasaratha Avenue is below this median.

• Daulat Avenue, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Delhi Avenue: Rs 1,300 per sq.ft (2024)
• Demonte Avenue: Rs 1,600 per sq.ft (2024)
• Devaki Nagar 1st Cross Street (Ward 24): Rs 3,250 per sq.ft (2024)
• Devaki Nagar 1st st (Ward No.24): Rs 3,250 per sq.ft (2024)
• Devaki Nagar 2nd Cross Street (Ward 24): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Dasaratha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dasaratha Avenue?

The Sub Registrar Office that covers Dasaratha Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find more details about your SRO, you can find your SRO.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a critical factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and the seller.

When a property is sold, the buyer is required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dasaratha Avenue?

The current guideline value of Dasaratha Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Dasaratha Avenue?

Dasaratha Avenue falls under the Residential Class III Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.