Guideline Value for DURAI PANDIAN STREET

Durai Pandian Street guideline value

The current guideline value of Durai Pandian Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Durai Pandian Street has changed

The guideline value for Durai Pandian Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,160 per sq.ft, marking an 8% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, and from 2012 to 2017, it saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%, reflecting the current figure of Rs 2,160 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is equal to the current value of Durai Pandian Street.

• Durairagubathi Street: Rs 2,160 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durikannu Salai: Rs 2,200 per sq.ft (2024)
• English Electric Nagar: Rs 3,300 per sq.ft (2024)
• Dhanalakshmi Street (Extn.): Rs 2,160 per sq.ft (2024)
• Dhanalakshmi Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Durai Pandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration fees would be Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durai Pandian Street?

The Sub Registrar Office that covers Durai Pandian Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are fairly assessed.

Frequently asked questions

What is the current guideline value of Durai Pandian Street?

The current guideline value of Durai Pandian Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 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 2,160 per sq.ft in 2024.

What is the land classification for Durai Pandian Street?

Durai Pandian Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Durai Pandian Street?

The Sub Registrar Office for Durai Pandian Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 at 7%.