Guideline Value for DURAISAMY STREET

Duraisamy Street guideline value

The current guideline value of Duraisamy Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Duraisamy Street has changed

Starting from the earliest revision in 2002, the guideline value for Duraisamy Street was Rs 1,084 per sq.ft. This figure saw an increase to Rs 1,199 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 1,300 per sq.ft in 2007, resulting in an 8% growth. In 2012, the value was revised to Rs 6,500 per sq.ft, showing a significant increase of 400% from the previous figure. However, it then decreased to Rs 4,355 per sq.ft in 2017, reflecting a 33% decline.

In 2023, the guideline value was set at Rs 6,500 per sq.ft, and it increased by 49% to Rs 7,150 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 560%. There are no figures available for any other years for this street in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which means that Duraisamy Street's 2024 guideline value is below the median.

• East Coastal Road: Rs 12,650 per sq.ft (2024)
• East Mada Veethi: Rs 7,160 per sq.ft (2024)
• East Sea Cross Street: Rs 12,650 per sq.ft (2024)
• Eliots Beach Road: Rs 12,650 per sq.ft (2024)
• District Boag Road: Rs 11,000 per sq.ft (2024)
• Dharmambal Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000. Together, the total cost for stamp duty and registration fee would be Rs 6,43,500. 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 Duraisamy Street?

The Sub Registrar Office covering Duraisamy Street is the Chennai South Joint I 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 Thiruvanmiyur

The guideline value is an essential factor during property registration in Thiruvanmiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Duraisamy Street?

The current guideline value of Duraisamy Street is Rs 7,150 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 1,084 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, marking an overall increase of 560% over this period.

What is the registration office for Duraisamy Street?

The registration office for Duraisamy Street is the Chennai South Joint I Sub Registrar Office, 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 in Duraisamy Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 71,50,000 would incur a stamp duty of Rs 5,00,500.

What are the other streets in Thiruvanmiyur with their guideline values?

Other streets in Thiruvanmiyur include East Coastal Road at Rs 12,650 per sq.ft, East Mada Veethi at Rs 7,160 per sq.ft, and Dharmambal Street at Rs 7,150 per sq.ft, among others.