Guideline Value for Sri Durga Avenue

Sri Durga Avenue guideline value

The current guideline value of Sri Durga Avenue is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Durga Avenue has changed

The guideline value for Sri Durga Avenue has seen significant changes over the years. The 2017 revision set the value at Rs 737 per sq.ft, which increased to Rs 1,100 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sri Durga Avenue's 2024 figure below this median.

• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Sree Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)
• S.K.Avenue: Rs 2,200 per sq.ft (2024)
• Sivavishnu Nagar: Rs 2,200 per sq.ft (2024)
• Sriranga Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Durga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees together to Rs 1,08,900. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Durga Avenue?

The Sub Registrar Office that covers Sri Durga Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the necessary fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Durga Avenue?

The current guideline value of Sri Durga Avenue is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft in 2024, marking a total increase of 64% over this period.

Where can I find the registration office for Sri Durga Avenue?

The registration office for Sri Durga Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the stamp duty and registration fees for properties in Sri Durga Avenue?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the fees are aligned with local regulations and reflects the value of the property being sold or purchased.