Guideline Value for Durgai Avenue 7th Street

Durgai Avenue 7th Street guideline value

The current guideline value of Durgai Avenue 7th 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 7th Street has changed

The guideline value for Durgai Avenue 7th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,340 per sq.ft in the 2017 revision, reflecting a decrease of 11%. However, the value saw a significant increase to Rs 2,000 per sq.ft in 2023, marking a rise of 49%. The most recent revision in 2024 established the current guideline value at Rs 2,200 per sq.ft, 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. The median guideline value for these streets is Rs 2,200 per sq.ft, which aligns with the current value of Durgai Avenue 7th Street.

• Durgai Avenue 6th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 8th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 5th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue Extension 9th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 4th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Avenue 7th 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, resulting in a total of 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 7th Street?

The Durgai Avenue 7th Street is covered by 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 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 applicable during the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges reflect the official valuation of the property. This helps maintain transparency and uniformity in property transactions.

Frequently asked questions

What is the current guideline value of Durgai Avenue 7th Street?

The current guideline value of Durgai Avenue 7th 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 7th Street?

Durgai Avenue 7th Street is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is the stamp duty calculated for properties in Durgai Avenue 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.