Guideline Value for Durai Nagar

Durai Nagar guideline value

The current guideline value of Durai Nagar, located in Chettimedu village under the Redhills SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Durai Nagar has changed

The guideline value of Durai Nagar has seen significant changes over the years. In the 2003 revision, the value was Rs 18 per sq.ft. This increased to Rs 200 per sq.ft in 2007, marking a change of +1011%. The 2012 revision saw the value hold steady at Rs 400 per sq.ft, but then it dropped to Rs 268 per sq.ft in 2017, a decrease of -33%. The 2023 revision brought the value back up to Rs 400 per sq.ft, and the most recent 2024 revision has set it at Rs 1,002 per sq.ft, reflecting an increase of +151% from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +5467%. It is important to note that there is no figure available for the year 2002 for this street in the register.

Guideline values in Chettimedu

In Chettimedu village, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value is Rs 1,002 per sq.ft, which is the same as the guideline value for Durai Nagar. Below are the guideline values for other streets in Chettimedu:

• Dr. Radhakrishnan Nagar: Rs 1,000 per sq.ft (2024)
• C.K. Mathavan Nagar: Rs 1,002 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,000 per sq.ft (2024)
• Bhanu Nagar: Rs 1,000 per sq.ft (2024)
• Bai Nagar: Rs 1,002 per sq.ft (2024)
• Baba Nagar: Rs 1,008 per sq.ft (2024)

Stamp duty and registration fee for property in Durai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. 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 details.

Which Sub Registrar Office covers Durai Nagar?

The Sub Registrar Office that covers Durai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Chettimedu. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the sale price, ensuring that transactions are conducted transparently.

Frequently asked questions

What is the current guideline value of Durai Nagar?

The current guideline value of Durai Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 18 per sq.ft in 2003 to Rs 1,002 per sq.ft in 2024, which is an overall increase of +5467%.

What are the other streets in Chettimedu with their guideline values?

Other streets in Chettimedu include Dr. Radhakrishnan Nagar at Rs 1,000 per sq.ft, C.K. Mathavan Nagar at Rs 1,002 per sq.ft, and Bai Nagar at Rs 1,002 per sq.ft, among others.

How are stamp duty and registration fees calculated in Durai Nagar?

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.

Where can I find the Sub Registrar Office for Durai Nagar?

The Sub Registrar Office for Durai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.