Guideline Value for Duraisamy Mudali Street

Duraisamy Mudali Street guideline value

The current guideline value of Duraisamy Mudali Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Duraisamy Mudali Street has changed

The guideline value for Duraisamy Mudali Street has seen several revisions over the years. The earliest recorded revision in the register is from 2002, with a value of Rs 319 per sq.ft. This increased to Rs 346 per sq.ft in 2003, marking an 8% rise. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, reflecting a 102% increase. In 2012, the value reached Rs 1,800 per sq.ft, which was a substantial 157% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 1,206 per sq.ft, a decline of 33%. However, this was followed by a sharp increase to Rs 1,800 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft, representing a 6% increase from the previous year.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO carrying a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Duraisamy Mudali Street's 2024 figure is below this median.

• Elango Street (Anbazhagan Nagar): Rs 1,900 per sq.ft (2024)
• Elango Street (Ramana Nagar): Rs 1,900 per sq.ft (2024)
• Elumalai Street: Rs 1,900 per sq.ft (2024)
• Dhimmasamy Dharga 4th Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 3rd Street: Rs 1,700 per sq.ft (2024)
• Dhimmasamy Dharga 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Mudali Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraisamy Mudali Street?

The Sub Registrar Office that covers Duraisamy Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Duraisamy Mudali Street?

The current guideline value of Duraisamy Mudali Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 319 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, representing an overall increase of 496% over the years.

What are the other streets in Sembiam with similar guideline values?

Other streets in Sembiam with similar guideline values include Elango Street (Anbazhagan Nagar), Elango Street (Ramana Nagar), and Elumalai Street, all valued at Rs 1,900 per sq.ft in 2024.

How is stamp duty calculated for properties on Duraisamy Mudali Street?

Stamp duty for properties on Duraisamy Mudali Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property would incur a stamp duty of Rs 1,33,000 at the current guideline value.

Where can I find the Sub Registrar Office for Duraisamy Mudali Street?

The Sub Registrar Office for Duraisamy Mudali Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information about your SRO online.