Guideline Value for DURAISWAMY NAIKER NAGAR

Duraiswamy Naiker Nagar guideline value

The current guideline value of Duraiswamy Naiker Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Avaloor village and falls under the Walajabad SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Duraiswamy Naiker Nagar has changed

The guideline value for Duraiswamy Naiker Nagar has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the value was set at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, maintaining the same figure in the 2024 revision, representing a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft. This stability indicates that the value has not fluctuated significantly over the past decade, despite the changes seen in earlier revisions.

Guideline values in Avaloor

Avaloor village has 13 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 450 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is also the current guideline value for Duraiswamy Naiker Nagar. Below are the guideline values for other streets in Avaloor:

• Duraiswamy Naiker Nagar: Rs 200 per sq.ft (2024)
• D.S.P City: Rs 150 per sq.ft (2024)
• Metro City Phase-IV: Rs 250 per sq.ft (2024)
• Poorna Nagar: Rs 150 per sq.ft (2024)
• Raghavan Naicker Nagar: Rs 100 per sq.ft (2024)
• R.V.Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Naiker Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty is calculated at 7%, amounting to Rs 14,000, and the registration fee is charged at 2%, totaling Rs 4,000. Therefore, the total fees would be Rs 18,000. 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 these fees.

Which Sub Registrar Office covers Duraiswamy Naiker Nagar?

The Sub Registrar Office that covers Duraiswamy Naiker Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Avaloor. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that all transactions are recorded accurately and fairly.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Duraiswamy Naiker Nagar?

The current guideline value of Duraiswamy Naiker Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant decrease from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for Duraiswamy Naiker Nagar?

Duraiswamy Naiker Nagar is classified as Residential Class I Type - II, indicating its designation for residential use.

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

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone, and is responsible for property registrations in Duraiswamy Naiker Nagar.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same. For instance, a property valued at Rs 2,00,000 would incur a total fee of Rs 18,000, including both stamp duty and registration fees.