Guideline Value for Delhi Avenue

Delhi Avenue guideline value

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

How the guideline value of Delhi Avenue has changed

The guideline value for Delhi Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision further increased the value by 8% to Rs 1,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Delhi Avenue. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%.

Guideline values in Madhavaram

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

• 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)
• Devaki Nagar 2nd st ( Ward No.24): Rs 3,250 per sq.ft (2024)
• Devaki Nagar 3rd Cross Street (Ward 24): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Delhi 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, bringing the total cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Delhi Avenue?

The Sub Registrar Office that covers Delhi Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to assess the applicable fees. Buyers should be aware that the duty is calculated based on the higher amount between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Delhi Avenue?

The current guideline value of Delhi 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 for Delhi Avenue has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62% during this period.

What is the land classification for Delhi Avenue?

Delhi Avenue is classified under Residential Class III Type - I as per the land classification standards.

What are the stamp duty and registration fees for a property in Delhi Avenue?

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 Madhavaram Sub Registrar Office located?

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