Guideline Value for DURAISWAMY STREET

Duraiswamy Street guideline value

The current guideline value of Duraiswamy Street is Rs 4,620 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, which falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Duraiswamy Street has changed

The guideline value for Duraiswamy Street has seen several revisions over the years. In 2002, the value was Rs 635 per sq.ft, which increased to Rs 732 per sq.ft in 2003. The value then rose by 15% to Rs 1,000 per sq.ft in 2007. Following this, there was a significant increase of 320%, bringing the value to Rs 4,200 per sq.ft in 2012. However, it decreased by 33% to Rs 2,814 per sq.ft in 2017. The value then saw a substantial rise of 49% to Rs 4,200 per sq.ft in 2023, and finally, it increased by 10% to the current value of Rs 4,620 per sq.ft in 2024.

There are no figures for the revisions in the years not mentioned. The overall change from 2002 to 2024 is an increase of 628% in the guideline value per sq.ft.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, which is the same as the current value for Duraiswamy Street.

• Evan Salix Church Road: Rs 4,620 per sq.ft (2024)
• Dhanapal Street: Rs 3,080 per sq.ft (2024)
• Dhanakodi Raja Street: Rs 4,620 per sq.ft (2024)
• Ganapathy Colony 2nd Cross St: Rs 4,620 per sq.ft (2024)
• Ganapathy Colony Ist Cros Street: Rs 4,620 per sq.ft (2024)
• Ganapathy Colony (Near Vandipattai): Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400. Together, the total cost would be Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Duraiswamy Street?

The Sub Registrar Office that covers Duraiswamy 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 Ekkaduthangal

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as the minimum value for property transactions, ensuring that the sale price is not significantly lower than the established guideline value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Duraiswamy Street?

The current guideline value of Duraiswamy Street is Rs 4,620 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 635 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 628% over this period.

What are the stamp duty and registration fees for property in Duraiswamy Street?

For a 1,000 sq.ft plot, the total guideline value would be Rs 46,20,000, with a stamp duty of Rs 3,23,400 and a registration fee of Rs 92,400, bringing the total to Rs 4,15,800.

Which office handles registrations for Duraiswamy Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Duraiswamy Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is revised periodically to reflect changes in the real estate market.