Guideline Value for Durai Samy Street

Durai Samy Street guideline value

The current guideline value for Durai Samy Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Durai Samy Street has changed

In the 2007 revision, the guideline value was Rs 2,800 per sq.ft. This figure increased significantly to Rs 7,000 per sq.ft in the 2012 revision, marking a 150% increase. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The value then rose to Rs 7,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 7,700 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which means that Durai Samy Street's 2024 figure is below that median.

• Dr.Thirumurthy Nagar Main Road: Rs 16,500 per sq.ft (2024)
• Dr.Thirumurthy Nagar 6th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 5th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 4th Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 3rd Street: Rs 9,300 per sq.ft (2024)
• Dr.Thirumurthy Nagar 2nd St: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Durai Samy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total charges to Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durai Samy Street?

The Sub Registrar Office covering Durai Samy Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Nungambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Durai Samy Street?

The current guideline value of Durai Samy Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 2,800 per sq.ft to Rs 7,700 per sq.ft in 2024, marking an overall increase of 175% across the years.

What is the land classification for Durai Samy Street?

Durai Samy Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Durai Samy Street?

The stamp duty for properties in Durai Samy Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Durai Samy Street?

The Sub Registrar Office for Durai Samy Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.