Guideline Value for Durgai Avenue 1st Street

Durgai Avenue 1st Street guideline value

The current guideline value of Durgai Avenue 1st 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 1st Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 11%. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, reflecting a rise of 49%. 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 figures available for the years 2002, 2003, and 2007 in the register for Durgai Avenue 1st 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 the same as the current guideline value for Durgai Avenue 1st Street.

• Durgai Avenue 19th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 18th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 3rd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 17th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 1st 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, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durgai Avenue 1st Street?

The Sub Registrar Office that covers Durgai Avenue 1st 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 property transactions in Selavoyal. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When purchasing property, the guideline value serves as a benchmark for both parties involved in the transaction. It ensures that the registration process is transparent and that the appropriate fees are collected based on the established values in the area.

Frequently asked questions

What is the current guideline value of Durgai Avenue 1st Street?

The current guideline value of Durgai Avenue 1st 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, reflecting an overall increase of 47% over this period.

What is the stamp duty for property in Durgai Avenue 1st Street?

The stamp duty for a property valued at Rs 22,00,000 in Durgai Avenue 1st Street would be Rs 1,54,000, which is 7% of the guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is based on the higher value between the guideline value and the sale price.