Guideline Value for Durgai Avenue 18th Street

Durgai Avenue 18th Street guideline value

The current guideline value of Durgai Avenue 18th 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 18th Street has changed

The guideline value for Durgai Avenue 18th Street has seen 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. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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 is Rs 2,200 per sq.ft, which is the same as the current figure for Durgai Avenue 18th Street.

• Durgai Avenue 17th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 19th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 16th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 14th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 18th 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, 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 use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Durgai Avenue 18th Street?

The Sub Registrar Office that covers Durgai Avenue 18th 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 in the registration process of property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, buyers should be aware that the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durgai Avenue 18th Street?

The current guideline value of Durgai Avenue 18th 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 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 Avenue 18th Street?

Durgai Avenue 18th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Durgai Avenue 18th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Durgai Avenue 18th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fee can amount to Rs 1,98,000.