Guideline Value for DURGA STREET

Durga Street guideline value

The current guideline value of Durga Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - III land classification.

How the guideline value of Durga Street has changed

The guideline value for Durga Street has seen several revisions over the years. Starting from Rs 645 per sq.ft in 2003, it increased to Rs 950 per sq.ft in 2007, marking a significant rise of 47%. In 2012, the value adjusted to Rs 5,000 per sq.ft, which was a considerable increase of 426% from the previous revision. However, in 2017, it dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%.

In the most recent revisions, the guideline value was Rs 5,000 per sq.ft in 2023, which increased by 49% to reach Rs 5,500 per sq.ft in 2024. Overall, from 2003 to 2024, the guideline value has increased by 753%. Notably, the register has no figure for this street for the year 2002.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Durga Street is below this median.

• Duraswamy Raja Street: Rs 5,500 per sq.ft (2024)
• Duraswamy Colony: Rs 6,000 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 Durga Street

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

Which Sub Registrar Office covers Durga Street?

The Sub Registrar Office that covers Durga 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 more details.

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 serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Durga Street?

The current guideline value of Durga 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 changed from Rs 645 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, with various revisions occurring in between.

Where can I find the registration office for Durga Street?

The registration office for Durga Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the stamp duty rate for property in Durga Street?

The stamp duty rate for property in Durga Street is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets with different guideline values in Arumbakkam?

Yes, there are several other streets in Arumbakkam with different guideline values, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with the median being Rs 6,000 per sq.ft.