Guideline Value for DURASWAMY COLONY

Duraswamy Colony guideline value

The current guideline value for Duraswamy Colony is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Duraswamy Colony has changed

The guideline value for Duraswamy Colony has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, but then dropped to Rs 3,685 per sq.ft in 2017. The value rose again to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft from the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 380%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which is equal to the current guideline value for Duraswamy Colony.

• Duraswamy Raja Street: Rs 5,500 per sq.ft (2024)
• Durga Street: Rs 5,500 per sq.ft (2024)
• Dr. Radhakrishnan Salai: Rs 3,300 per sq.ft (2024)
• Dr. Mu.Va.Road: Rs 6,000 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 4,700 per sq.ft (2024)
• Eswari Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Duraswamy Colony

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraswamy Colony?

The Sub Registrar Office that covers Duraswamy Colony 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 information.

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

The guideline value is an important factor when registering property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable to the transaction.

When you buy or sell a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Duraswamy Colony?

The current guideline value of Duraswamy Colony is Rs 6,000 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 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 380% over the period.

Which Sub Registrar Office covers Duraswamy Colony?

The Kodambakkam Sub Registrar Office covers Duraswamy Colony, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for property in Duraswamy Colony?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 60,00,000, the total fees would amount to Rs 5,40,000.

What is the land classification for Duraswamy Colony?

The land classification for Duraswamy Colony is Residential Special Type - II, indicating its designated use for residential purposes.