Guideline Value for Durgai Avenue 2nd Street

Durgai Avenue 2nd Street guideline value

The current guideline value of Durgai Avenue 2nd 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Durgai Avenue 2nd Street has changed

The guideline value for Durgai Avenue 2nd Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,500 per sq.ft. In 2017, the value decreased to Rs 1,340 per sq.ft, marking an 11% drop. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, setting the current guideline value at Rs 2,200 per sq.ft.

It is important to note that there are no recorded figures for Durgai Avenue 2nd Street in the revisions from 2002, 2003, and 2007. Overall, the guideline value has increased by 47% from 2012 to 2024.

Guideline values in Selavoyal

In Selavoyal village, there are a total of 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 2nd Street.

• Durgai Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 3rd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 19th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 18th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Durgai Avenue 2nd Street?

The Durgai Avenue 2nd Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durgai Avenue 2nd Street?

The current guideline value of Durgai Avenue 2nd 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 increased 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 the twelve-year period.

What is the stamp duty rate for properties in Durgai Avenue 2nd Street?

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

Where can I find the Sub Registrar Office for Durgai Avenue 2nd Street?

The Sub Registrar Office for Durgai Avenue 2nd Street is the Madhavaram Sub Registrar Office 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 with the same guideline value of Rs 2,200 per sq.ft include Durgai Avenue 1st Street, Durgai Avenue 3rd Street, Durgai Avenue 19th Street, Durgai Avenue 4th Street, Durgai Avenue 18th Street, and Durgai Avenue 5th Street.