Guideline Value for DURASWAMY RAJA STREET

Duraswamy Raja Street guideline value

The current guideline value of Duraswamy Raja Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Duraswamy Raja Street has changed

The guideline value for Duraswamy Raja Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,050 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, this value decreased to Rs 3,350 per sq.ft in 2017. The 2023 revision saw a rise to Rs 5,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 424%.

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 guideline value in this area is Rs 6,000 per sq.ft, making Duraswamy Raja Street's 2024 figure of Rs 5,500 per sq.ft below that median.

• Duraswamy Colony: Rs 6,000 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 Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that 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.

Which Sub Registrar Office covers Duraswamy Raja Street?

The Sub Registrar Office that covers Duraswamy Raja Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It determines the minimum value at which the property must be registered and affects the stamp duty and registration fees payable.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must ensure that the sale price meets or exceeds this value to comply with registration regulations.

Frequently asked questions

What is the current guideline value of Duraswamy Raja Street?

The current guideline value of Duraswamy Raja Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,050 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking a total increase of 424% over this period.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000 based on the current guideline value.

Which Sub Registrar Office covers this street?

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

What is the land classification for Duraswamy Raja Street?

Duraswamy Raja Street is classified as Residential Special Type - III, indicating its designation for residential use.