Guideline Value for Durgai Amman Main Road

Durgai Amman Main Road guideline value

The current guideline value of Durgai Amman Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Durgai Amman Main Road has changed

The guideline value for Durgai Amman Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value significantly increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 11%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects an increase of 47%, indicating a significant rise in the guideline value over this period.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which aligns with the guideline value of Durgai Amman Main Road.

• Durgai Avenue 10th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 11th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 12th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 13th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 14th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 16th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Amman Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, resulting in Rs 1,54,000, while the registration fee at 2% amounts to Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Durgai Amman Main Road?

The Sub Registrar Office that covers Durgai Amman Main Road 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 Selavoyal

The guideline value is a crucial factor in the registration process of property transactions in Selavoyal. 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 compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durgai Amman Main Road?

The current guideline value of Durgai Amman Main Road is Rs 2,200 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 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Durgai Amman Main Road?

Durgai Amman Main Road is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is the stamp duty calculated for properties on Durgai Amman Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.