Guideline Value for Durgai Avenue 12th Street

Durgai Avenue 12th Street guideline value

The current guideline value of Durgai Avenue 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Durgai Avenue 12th Street has changed

The guideline value for Durgai Avenue 12th Street has undergone several revisions over the years. The earliest available figure is from 2012, which 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 change of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register 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 value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Durgai Avenue 12th Street.

• Durgai Avenue 11th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 10th 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)
• Durgai Avenue 17th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 12th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durgai Avenue 12th Street?

The Sub Registrar Office that covers Durgai Avenue 12th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value is an important factor in property transactions in Selavoyal. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value ensures that the transaction is registered at a fair value, which is crucial for legal and tax purposes.

When you register a property, the guideline value acts as a baseline for calculating the costs associated with the transaction. It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Durgai Avenue 12th Street?

The current guideline value of Durgai Avenue 12th 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, with various revisions in between, including increases and one decrease.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would be Rs 1,98,000.

Which office handles registrations for Durgai Avenue 12th Street?

The Madhavaram Sub Registrar Office is responsible for handling registrations for Durgai Avenue 12th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Durgai Avenue 12th Street?

Durgai Avenue 12th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.