Guideline Value for Durairaj Street

Durairaj Street guideline value

The current guideline value of Durairaj Street is Rs 6,050 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Durairaj Street has changed

The guideline value for Durairaj Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 6,050 per sq.ft, a significant increase from the 2017 revision which was Rs 3,685 per sq.ft. This marks a change of +64% from 2017 to 2024. Prior to that, in 2012, the guideline value was Rs 5,500 per sq.ft, indicating a decrease of -33% when compared to the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of +10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Durairaj Street's 2024 value above this median.

• Dr.Radhakrishnan Salai: Rs 6,050 per sq.ft (2024)
• East Kamakodi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Durairaj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,050 per sq.ft, the total guideline value amounts to Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, bringing the total to Rs 5,44,500. 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 more details.

Which Sub Registrar Office covers Durairaj Street?

The Sub Registrar Office that covers Durairaj Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When you register a property, the guideline value helps ensure that the transaction is documented accurately, reflecting the official valuation set by the government. This process aids in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Durairaj Street?

The current guideline value of Durairaj Street is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, and finally to Rs 6,050 per sq.ft in 2024. The most significant change was a +64% increase from 2017 to 2024.

What is the land classification of Durairaj Street?

Durairaj Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Durairaj Street?

The Sub Registrar Office for Durairaj Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Durairaj Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 60,50,000, the stamp duty would be Rs 4,23,500.