Guideline Value for David George 1st Lane

David George 1st Lane guideline value

The current guideline value of David George 1st Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of David George 1st Lane has changed

The guideline value register shows no figures for David George 1st Lane for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which was an increase from the previous revisions. The latest 2024 revision has increased this value to Rs 2,750 per sq.ft, marking a change of +10% from the 2023 figure.

This current figure is aligned with the median guideline value for Madipakkam-1, which is also Rs 2,750 per sq.ft. The street's value reflects the overall trends in the area, where the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. David George 1st Lane's 2024 figure matches the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

• David George 2nd Lane: Rs 2,750 per sq.ft (2024)
• David George 3rd Lane: Rs 2,750 per sq.ft (2024)
• David George Cross Street: Rs 2,750 per sq.ft (2024)
• David George Cross Street/Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• David George Street: Rs 2,750 per sq.ft (2024)
• Daniel Street/Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in David George 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers David George 1st Lane?

The Sub Registrar Office covering David George 1st Lane is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is crucial when registering property in Madipakkam-1, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

It is important to note that the guideline value may influence the sale price, as it serves as a benchmark for property transactions. Hence, understanding the current guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of David George 1st Lane?

The current guideline value of David George 1st Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

There have been several revisions, with the 2023 figure at Rs 2,500 per sq.ft and the 2024 figure increasing to Rs 2,750 per sq.ft, a change of +10%.

What is the land classification for David George 1st Lane?

David George 1st Lane is classified as Residential Class I Type - III.

Where can I find the registration office for David George 1st Lane?

The registration office is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in David George 1st Lane?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,92,500 based on the current guideline value.