Guideline Value for Duraikannu Street

Duraikannu Street guideline value

The current guideline value of Duraikannu Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Duraikannu Street has changed

The guideline value for Duraikannu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and then further rose to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for Duraikannu Street for the years 2002, 2003, and 2007.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Duraikannu Street's 2024 figure of Rs 880 per sq.ft is above this median.

• East Maada Street: Rs 880 per sq.ft (2024)
• Elangovan Street: Rs 880 per sq.ft (2024)
• Eswari Avanue: Rs 880 per sq.ft (2024)
• Devimuthu Nagar: Rs 804 per sq.ft (2024)
• Friends Colony: Rs 806 per sq.ft (2024)
• Frances Colony: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Duraikannu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraikannu Street?

The Sub Registrar Office that covers Duraikannu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the applicable taxes. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Duraikannu Street?

The current guideline value of Duraikannu Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Duraikannu Street?

Duraikannu Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for properties in Duraikannu Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Duraikannu Street?

The Ambattur Sub Registrar Office handles registrations for Duraikannu Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.