Guideline Value for Durgai Avenue 14th Street

Durgai Avenue 14th Street guideline value

The current guideline value of Durgai Avenue 14th 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 14th Street has changed

The guideline value for Durgai Avenue 14th Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,500 per sq.ft. This value decreased to Rs 1,340 per sq.ft in 2017. However, it increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 47% increase in the guideline value. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that have a guideline value for 2024, 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 14th Street.

• Durgai Avenue 13th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 12th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 16th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 11th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 17th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 10th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 14th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 Rs 1,98,000. 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 more details.

Which Sub Registrar Office covers Durgai Avenue 14th Street?

The Sub Registrar Office that covers Durgai Avenue 14th Street 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 during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges. It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the property transaction process.

Frequently asked questions

What is the current guideline value of Durgai Avenue 14th Street?

The current guideline value of Durgai Avenue 14th 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 significant increases noted in the years 2023 and 2024.

What is the median guideline value for streets in Selavoyal?

The median guideline value for streets in Selavoyal is Rs 2,200 per sq.ft, which is the same as the current value for Durgai Avenue 14th Street.

What are the stamp duty rates for properties in Durgai Avenue 14th Street?

The stamp duty rate for properties in Durgai Avenue 14th Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Durgai Avenue 14th Street?

The Madhavaram Sub Registrar Office handles registrations for Durgai Avenue 14th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.