Guideline Value for Durgai Avenue Extension 9th Street

Durgai Avenue Extension 9th Street guideline value

The current guideline value of Durgai Avenue Extension 9th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Durgai Avenue Extension 9th Street has changed

Over the years, the guideline value of Durgai Avenue Extension 9th Street has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. 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 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

The guideline value register does not have figures for the years 2002, 2003, and 2007 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 value is Rs 2,200 per sq.ft, which is the same as the guideline value for Durgai Avenue Extension 9th Street.

• Durgai Avenue 8th Street: Rs 2,200 per sq.ft (2024)
• Durgai Avenue 7th 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 Extension 9th 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, making the total charges 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durgai Avenue Extension 9th Street?

The Durgai Avenue Extension 9th 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

When buying or selling property in Selavoyal, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Durgai Avenue Extension 9th Street?

The current guideline value of Durgai Avenue Extension 9th 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 2,200 per sq.ft in 2024, reflecting an overall increase of 47% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at 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 registrations for Durgai Avenue Extension 9th Street?

The Madhavaram Sub Registrar Office handles registrations for Durgai Avenue Extension 9th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Durgai Avenue Extension 9th Street?

The land classification for Durgai Avenue Extension 9th Street is Residential Class II Type - I.