Guideline Value for Durga Avenue

Durga Avenue guideline value

The current guideline value of Durga Avenue, located in Mudichur village under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Durga Avenue has changed

Over the years, the guideline value of Durga Avenue has seen significant changes. In 2007, the guideline value was Rs 150 per sq.ft, which increased dramatically to Rs 1,100 per sq.ft in 2012, marking a rise of 633%. However, from 2012 to 2017, the value decreased by 33% to Rs 737 per sq.ft. The next revision in 2023 saw an increase to Rs 1,100 per sq.ft, followed by a further increase of 10% to the current value of Rs 1,210 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 707%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Durga Avenue's current value below this median.

• Duraisami Nagar: Rs 3,630 per sq.ft (2024)
• E.B.Colony: Rs 3,630 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,210 per sq.ft (2024)
• Elumalai Nagar: Rs 2,200 per sq.ft (2024)
• Erikkarai Street: Rs 3,630 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost to Rs 1,08,900. It is important to note that the 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 Durga Avenue?

The Sub Registrar Office that covers Durga Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Durga Avenue?

The current guideline value of Durga Avenue is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 707% over this period.

What is the land classification of Durga Avenue?

Durga Avenue is classified as Residential Class II Type - I, which is a designation used for residential properties in the area.

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

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Where is the Sub Registrar Office for Durga Avenue located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, covering Durga Avenue.