Guideline Value for DURIKANNU SALAI

Durikannu Salai guideline value

The current guideline value of Durikannu Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

How the guideline value of Durikannu Salai has changed

The guideline value for Durikannu Salai has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,250 per sq.ft. This increased to Rs 2,200 per sq.ft in 2012, marking a significant rise of 76%. However, by 2017, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The value then increased again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, reflecting 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 76%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Durikannu Salai's 2024 figure above this median.

• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durairagubathi Street: Rs 2,160 per sq.ft (2024)
• Durai Pandian Street: Rs 2,160 per sq.ft (2024)
• English Electric Nagar: Rs 3,300 per sq.ft (2024)
• Dhanalakshmi Street (Extn.): Rs 2,160 per sq.ft (2024)
• Dhanalakshmi Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Durikannu Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Durikannu Salai?

The Sub Registrar Office that covers Durikannu Salai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration reflects a fair value based on the prevailing rates in the area.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Durikannu Salai?

The current guideline value of Durikannu Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 76% during this period.

What is the land classification for Durikannu Salai?

Durikannu Salai is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Durikannu Salai?

The Sub Registrar Office for Durikannu Salai is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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 value.