Guideline Value for David George Street

David George Street guideline value

The current guideline value of David George Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of David George Street has changed

The guideline value register shows no figures for David George Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only revision available is from 2024, where the value is set at Rs 2,750 per sq.ft.

As there are no figures for the previous years, there are no changes to report between revisions. The 2024 figure is the first recorded value for this street in the guideline value register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the 2024 guideline value of David George Street.

• David George Cross Street/Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• David George Cross Street: Rs 2,750 per sq.ft (2024)
• David George 3rd Lane: Rs 2,750 per sq.ft (2024)
• David George 2nd Lane: Rs 2,750 per sq.ft (2024)
• David George 1st Lane: 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 Street

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, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers David George Street?

The Sub Registrar Office covering David George Street 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of David George Street?

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

What is the land classification of David George Street?

David George Street is classified as Residential Class I Type - III according to the land classification regulations.

Are there any previous guideline values for David George Street?

The guideline value register shows no figures for David George Street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

How is stamp duty calculated for properties in David George Street?

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

Where is the Sub Registrar Office for David George Street located?

The Velacheri Sub Registrar Office, which covers David George Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.