Guideline Value for DURAISAMY GARDEN STREET

Duraisamy Garden Street guideline value

The current guideline value of Duraisamy Garden Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Duraisamy Garden Street has changed

The guideline value for Duraisamy Garden Street has seen several revisions over the years. In 2003, the value was Rs 763 per sq.ft, which increased to Rs 1,100 per sq.ft in 2007. Following that, there was a significant jump to Rs 3,000 per sq.ft in 2012, but it then decreased to Rs 2,010 per sq.ft in 2017. The value rose sharply again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. It is important to note that there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2003 to 2024 is a substantial 333%, reflecting the changes in the real estate landscape in this area.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. The guideline value for Duraisamy Garden Street is below this median.

• Duraisamy Naicken Street: Rs 3,300 per sq.ft (2024)
• East Kulakkarai Street: Rs 3,300 per sq.ft (2024)
• Ekkattuthangal Road: Rs 8,250 per sq.ft (2024)
• Dhanasekaran Street (Raja Naicken G): Rs 4,400 per sq.ft (2024)
• Devu Naidu Street: Rs 3,300 per sq.ft (2024)
• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating fees.

Which Sub Registrar Office covers Duraisamy Garden Street?

The Sub Registrar Office that covers Duraisamy Garden 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 further assistance.

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

The guideline value is a crucial factor during property registration in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair value of the property being transacted. It is essential for buyers and sellers to 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 Duraisamy Garden Street?

The current guideline value of Duraisamy Garden Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 763 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 333% over this period.

What is the land classification for Duraisamy Garden Street?

Duraisamy Garden Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.