Guideline Value for Duraisamy Nagar 1st Street

Duraisamy Nagar 1st Street guideline value

The current guideline value of Duraisamy Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Duraisamy Nagar 1st Street has changed

Over the years, the guideline value for Duraisamy Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 guideline value for Duraisamy Nagar 1st Street above the median.

• Duraisamy Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Duraisamy Nagar Varadharajan Street: Rs 2,750 per sq.ft (2024)
• Dr. Sharma Nagar: Rs 4,400 per sq.ft (2024)
• Durgaiamman Koil Street: Rs 1,100 per sq.ft (2024)
• Doss AvenueRuso street: Rs 1,100 per sq.ft (2024)
• Dhenupureeswarar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Duraisamy Nagar 1st Street?

The Sub Registrar Office that covers Duraisamy Nagar 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the correct stamp duty and registration fees applicable. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Duraisamy Nagar 1st Street?

The current guideline value of Duraisamy Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. From 2017 to 2023, it increased by 49%, while it decreased from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017.

What are the guideline values of other streets in Chitlapakkam?

Other streets in Chitlapakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Where can I find the Sub Registrar Office for Duraisamy Nagar 1st Street?

The Tambaram Joint 1 Sub Registrar Office covers Duraisamy Nagar 1st Street and is located at No.26, Mes Road, East Tambaram, Chennai-600059.