Guideline Value for Duraisamy Giramani 2nd Lane

Duraisamy Giramani 2nd Lane guideline value

The current guideline value for Duraisamy Giramani 2nd Lane is Rs 7,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class I Type - III.

How the guideline value of Duraisamy Giramani 2nd Lane has changed

The guideline value for Duraisamy Giramani 2nd Lane has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it saw a decrease to Rs 4,690 per sq.ft in 2017 before rising again to Rs 7,000 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 7,600 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, followed by a 9% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 407%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam consists of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Duraisamy Giramani 2nd Lane's 2024 figure above this median.

• Duraisamy Giramani 1st Lane: Rs 7,600 per sq.ft (2024)
• Duraisamy Giramani 2nd Street: Rs 7,600 per sq.ft (2024)
• Durai Samy Road (Kiramani): Rs 8,800 per sq.ft (2024)
• Dr. Subbarayan Nagar Main Road: Rs 7,000 per sq.ft (2024)
• Dr. Subbarayan Nagar 8th Street: Rs 7,000 per sq.ft (2024)
• Dr. Subbarayan Nagar 8th Cross Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Giramani 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value would be Rs 76,00,000. The stamp duty at 7% would amount to Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, totaling Rs 6,84,000. Duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Duraisamy Giramani 2nd Lane?

The Duraisamy Giramani 2nd Lane is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Duraisamy Giramani 2nd Lane?

The current guideline value of Duraisamy Giramani 2nd Lane is Rs 7,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, reflecting an overall increase of 407% over the years.

What is the land classification for Duraisamy Giramani 2nd Lane?

Duraisamy Giramani 2nd Lane is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office.

How is the stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the correct amount is paid during the registration process.