Guideline Value for Daulat Avenue, Lakshmipuram (Ward-26)

Daulat Avenue, Lakshmipuram (Ward-26) guideline value

The current guideline value of Daulat Avenue, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Daulat Avenue, Lakshmipuram (Ward-26) has changed

The guideline value for Daulat Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and most recently to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, placing Daulat Avenue's 2024 figure below that median.

• Dasaratha Avenue: 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 Daulat Avenue, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. 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 Daulat Avenue, Lakshmipuram (Ward-26)?

The Sub Registrar Office covering Daulat Avenue, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Daulat Avenue, Lakshmipuram (Ward-26)?

The current guideline value of Daulat Avenue, Lakshmipuram (Ward-26) 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Daulat Avenue?

Daulat Avenue is classified as Residential Class III Type - I. This classification is relevant for understanding the types of properties allowed in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Daulat Avenue located?

The Sub Registrar Office for Daulat Avenue, Lakshmipuram (Ward-26) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.