Guideline Value for Durgai Avenue 8th Street

Durgai Avenue 8th Street guideline value

The current guideline value of Durgai Avenue 8th 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 8th Street has changed

The guideline value for Durgai Avenue 8th Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017. However, there was a significant increase to Rs 2,000 per sq.ft in the 2023 revision, followed by another increase to the current value of Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal village, 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 equal to the guideline value of Durgai Avenue 8th Street.

• Durgai Avenue 7th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue Extension 9th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 6th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 5th 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 8th 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 is charged at 7%, amounting to Rs 1,54,000, while the registration fee is 2%, which is Rs 44,000. Together, the total fees would be 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durgai Avenue 8th Street?

The Durgai Avenue 8th Street falls under 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

When buying or selling property in Selavoyal, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid.

The guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in real estate transactions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Durgai Avenue 8th Street?

The current guideline value of Durgai Avenue 8th 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 8th Street?

Durgai Avenue 8th Street is classified as Residential Class II Type - I under the Madhavaram SRO.

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 8th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.