Guideline Value for Demonte Avenue

Demonte Avenue guideline value

The current guideline value of Demonte Avenue is Rs 1,600 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 II Type - I.

How the guideline value of Demonte Avenue has changed

The guideline value for Demonte Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 7%. The transition from the 2023 to 2024 revision shows a rise of 7% as well.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values in 2024 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, making the 2024 figure for Demonte Avenue equal to this median.

• Delhi Avenue: Rs 1,300 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 Demonte Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Demonte Avenue?

The Sub Registrar Office that covers Demonte Avenue 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 plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable to the property, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value at which the property can be registered. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Demonte Avenue?

The current guideline value of Demonte Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Demonte Avenue?

Demonte Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 16,00,000, the stamp duty is Rs 1,12,000 and the registration fee is Rs 32,000, totaling Rs 1,44,000 in fees.

Which office handles registrations for Demonte Avenue?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for Demonte Avenue.