Guideline Value for Durgai Avenue 17th Street

Durgai Avenue 17th Street guideline value

The current guideline value of Durgai Avenue 17th 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 17th Street has changed

The guideline value for Durgai Avenue 17th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% increase since 2017. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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, with a median value of Rs 2,200 per sq.ft. Durgai Avenue 17th Street's 2024 figure aligns with this median.

• Durgai Avenue 16th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 18th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 19th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 14th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 13th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 17th 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, bringing the total to 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 the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Durgai Avenue 17th Street?

The Durgai Avenue 17th Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, 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 in property transactions as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark to assess the transaction's legitimacy and ensure that the sale price reflects the property's value in the market. This helps maintain transparency in property dealings within Selavoyal.

Frequently asked questions

What is the current guideline value of Durgai Avenue 17th Street?

The current guideline value of Durgai Avenue 17th 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 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the stamp duty for properties in Durgai Avenue 17th Street?

The stamp duty for properties in Durgai Avenue 17th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Durgai Avenue 17th Street?

The Madhavaram Sub Registrar Office covers Durgai Avenue 17th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal that share the same guideline value of Rs 2,200 per sq.ft include Durgai Avenue 16th Street, Durgai Avenue 18th Street, Durgai Avenue 19th Street, Durgai Avenue 14th Street, Durgai Avenue 1st Street, and Durgai Avenue 13th Street.