Guideline Value for Sri Duraiswamy Mudaliar Avenue Phase I & II

Sri Duraiswamy Mudaliar Avenue Phase I & II guideline value

The current guideline value for Sri Duraiswamy Mudaliar Avenue Phase I & II is Rs 1,200 per sq.ft, effective from 1 July 2024. This property is located in Thirumullaivoyal village, under the Ambattur SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Sri Duraiswamy Mudaliar Avenue Phase I & II has changed

The guideline value for Sri Duraiswamy Mudaliar Avenue has seen several revisions over the years. The earliest recorded revision in 2017 set the value at Rs 737 per sq.ft. This increased significantly to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,200 per sq.ft, reflecting a 9% increase from the previous year. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a substantial increase of 63% in the guideline value. This progression indicates the changes in property valuation over the years, highlighting the adjustments made in response to various factors affecting the real estate market.

Guideline values in Thirumullaivoyal

Thirumullaivoyal has a total of 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft as of 2024. The median guideline value for the village is Rs 2,400 per sq.ft, placing the guideline value of Sri Duraiswamy Mudaliar Avenue Phase I & II below this median.

• Sri Devi Vaishnavi Nagar (L Street): Rs 2,700 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (K Street): Rs 2,700 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (J Street): Rs 2,700 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (I Street): Rs 2,700 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (H Street): Rs 2,700 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (G Street): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Duraiswamy Mudaliar Avenue Phase I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, calculated at 7%, would be Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Duraiswamy Mudaliar Avenue Phase I & II?

The Sub Registrar Office that covers Sri Duraiswamy Mudaliar Avenue Phase I & II is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Thirumullaivoyal. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

Additionally, the guideline value helps in establishing a legal framework for property transactions, ensuring that both buyers and sellers are informed about the value of the property being exchanged. This transparency is vital in maintaining trust and integrity in real estate dealings.

Frequently asked questions

What is the current guideline value of Sri Duraiswamy Mudaliar Avenue Phase I & II?

The current guideline value for Sri Duraiswamy Mudaliar Avenue Phase I & II is Rs 1,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 9%. Overall, from the 2017 revision to the 2024 revision, there has been a 63% increase.

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

The Sub Registrar Office for Sri Duraiswamy Mudaliar Avenue Phase I & II is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,08,000.

How does the guideline value affect property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of the property's value, promoting transparency in real estate dealings.