Guideline Value for DURAIRAJ NAGAR

Durairaj Nagar guideline value

The current guideline value of Durairaj Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - II land classification.

How the guideline value of Durairaj Nagar has changed

The guideline value for Durairaj Nagar has seen several revisions over the years. Starting from Rs 523 per sq.ft in 2002, it increased to Rs 575 in 2003, marking a 10% rise. The value further rose to Rs 925 per sq.ft in 2007, which was a significant increase of 61%. In 2012, the value reached Rs 4,000 per sq.ft, reflecting a substantial increase of 332%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then climbed to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 741%. There are no figures available for the revisions in years other than those listed.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, making the guideline value of Durairaj Nagar below the median.

• DR. SUBBARAYAN NAGAR MAIN ROAD (or) SAMIYAR MADAM STREET: Rs 6,300 per sq.ft (2024)
• Dr. Subbarao Nagar, Ch-24: Rs 5,800 per sq.ft (2024)
• Dr. Rajendraprasad I Street: Rs 5,000 per sq.ft (2024)
• Dr. Rajendraprasad II Street: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 3 Rd Street: Rs 5,000 per sq.ft (2024)
• Dr. Radhakrishnan Nagar 2 Nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Durairaj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durairaj Nagar?

The Sub Registrar Office that covers Durairaj Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

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

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Durairaj Nagar?

The current guideline value of Durairaj Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 523 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 741% over this period.

What is the land classification of Durairaj Nagar?

Durairaj Nagar falls under the Residential Class IV Type - II land classification.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which office handles property registrations in Durairaj Nagar?

The Kodambakkam Sub Registrar Office handles property registrations for Durairaj Nagar, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.