Guideline Value for Durgai Avenue 5th Street

Durgai Avenue 5th Street guideline value

The current guideline value for Durgai Avenue 5th 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 5th Street has changed

The guideline value for Durgai Avenue 5th Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 11%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. 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 the median value being Rs 2,200 per sq.ft. Durgai Avenue 5th Street's 2024 figure aligns with this median.

• Durgai Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 6th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 3rd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 7th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 5th 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 amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durgai Avenue 5th Street?

The Sub Registrar Office that covers Durgai Avenue 5th 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 crucial during property transactions in Selavoyal, as it determines the basis for stamp duty and registration fees. When a property is sold, the guideline value or the sale price, whichever is higher, is used to calculate these charges.

Buyers and sellers should be aware that the guideline value can affect the overall cost of property transactions. It is essential to consult the latest figures to understand the financial implications before proceeding with a sale or purchase.

Frequently asked questions

What is the current guideline value for Durgai Avenue 5th Street?

The current guideline value for Durgai Avenue 5th 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 5th Street?

Durgai Avenue 5th Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Durgai Avenue 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 22,00,000, leading to specific fees based on that value.