Guideline Value for Durgai Avenue 3rd Street

Durgai Avenue 3rd Street guideline value

The current guideline value of Durgai Avenue 3rd 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 3rd Street has changed

The guideline value for Durgai Avenue 3rd 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 2017. However, in 2023, the value increased to Rs 2,000 per sq.ft, marking a significant rise of 49% from the 2017 figure. The most recent revision in 2024 has further increased the guideline 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 3rd Street's 2024 figure aligns with this median.

• Durgai Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 5th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 19th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 3rd 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, bringing the total cost for these fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durgai Avenue 3rd Street?

The Sub Registrar Office that covers Durgai Avenue 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When registering a property, the guideline value is used to calculate the necessary fees, which are based on this value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and that the appropriate fees are collected by the registration authorities.

Frequently asked questions

What is the current guideline value of Durgai Avenue 3rd Street?

The current guideline value of Durgai Avenue 3rd 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 are the stamp duty and registration fees for property in Durgai Avenue 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Durgai Avenue 3rd Street?

The Madhavaram Sub Registrar Office handles property registrations for Durgai Avenue 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What does the guideline value indicate for property transactions?

The guideline value indicates the benchmark used to calculate stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to understand the financial implications of their transactions.