Guideline Value for Durgai Avenue 11th Street

Durgai Avenue 11th Street guideline value

The current guideline value of Durgai Avenue 11th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Durgai Avenue 11th Street has changed

The guideline value for Durgai Avenue 11th Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a decrease of 11%. However, from 2017 to 2023, the value rose significantly to Rs 2,000 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

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 guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Durgai Avenue 11th Street.

• Durgai Avenue 10th 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 Amman Main Road: 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 Avenue 11th Street

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 at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges 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 use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Durgai Avenue 11th Street?

The Sub Registrar Office that covers Durgai Avenue 11th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable duties and fees, which are essential for the legal transfer of ownership. It's important for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Durgai Avenue 11th Street?

The current guideline value for Durgai Avenue 11th Street 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 2,200 per sq.ft in 2024, showing an overall increase of 47% over this period.

What is the land classification for Durgai Avenue 11th Street?

Durgai Avenue 11th Street 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. This office handles the registration for Durgai Avenue 11th Street.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total charges would be Rs 1,98,000.