Guideline Value for Durairagubathi Street

Durairagubathi Street guideline value

The current guideline value of Durairagubathi Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Durairagubathi Street has changed

Over the years, the guideline value of Durairagubathi Street has seen several revisions. The earliest recorded figure was Rs 250 per sq.ft in 2007, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The guideline value rose again to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,160 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was a remarkable increase of 700%, but this was followed by a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023. The increase from 2023 to 2024 was 8%, resulting in an overall increase of 764% from 2007 to 2024.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values 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, which is equal to the current guideline value of Durairagubathi Street.

• Durai Pandian Street: Rs 2,160 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durikannu Salai: Rs 2,200 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 Durairagubathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, leading to a total of Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Durairagubathi Street?

The Sub Registrar Office that covers Durairagubathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 during property transactions in Nemilicherry, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When registering a property, the guideline value ensures that the transaction is documented at a fair price, reflecting the value of the property as determined by the local authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Durairagubathi Street?

The current guideline value of Durairagubathi Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 764% over this period.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles the registration for Durairagubathi Street?

The Pallavaram Sub Registrar Office handles the registration for Durairagubathi Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration price for properties, ensuring that transactions are conducted transparently and at a fair value as set by local authorities.