Guideline Value for DURAI STREET

Durai Street guideline value

The current guideline value of Durai Street in Koladi village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Durai Street has changed

The guideline value for Durai Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft. This increased to Rs 800 per sq.ft in the 2012 revision, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 800 per sq.ft in 2023, and then further rose to Rs 880 per sq.ft in the 2024 revision, marking a change of +10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +76%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Durai Street is below this median.

• Durgadevi Nagar: Rs 880 per sq.ft (2024)
• Durgadevi Nagar Cross And Anbu Naga R Cross: Rs 880 per sq.ft (2024)
• Ethulia: Rs 4,000 per sq.ft (2024)
• Devi Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 2nd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Durai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the 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 Durai Street?

The Sub Registrar Office that covers Durai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Koladi, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Furthermore, the guideline value serves as a reference point for buyers and sellers, helping them understand the market conditions and the value of properties in the area. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Durai Street?

The current guideline value of Durai Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of +76% over the years.

What is the classification of land on Durai Street?

Durai Street is classified as Residential Class II Type - II under the Chennai South Joint II SRO.

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

The Sub Registrar Office for Durai Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties on Durai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.