Guideline Value for Duraisamy Nagar 2nd Street

Duraisamy Nagar 2nd Street guideline value

The current guideline value of Duraisamy Nagar 2nd 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 2nd Street has changed

The guideline value for Duraisamy Nagar 2nd Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in the 2024 revision. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. 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 value for these streets is Rs 1,650 per sq.ft, placing the 2024 guideline value of Duraisamy Nagar 2nd Street above this median.

• Duraisamy Nagar 1st 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 2nd 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 fees together 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.

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

Which Sub Registrar Office covers Duraisamy Nagar 2nd Street?

The Sub Registrar Office that covers Duraisamy Nagar 2nd 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 information.

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

The guideline value is a crucial factor when registering a property in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value provides a benchmark for pricing. Buyers and sellers often refer to these values to negotiate fair and transparent transactions, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Duraisamy Nagar 2nd Street?

The current guideline value of Duraisamy Nagar 2nd 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 seen changes from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increasing to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Duraisamy Nagar 2nd Street?

Duraisamy Nagar 2nd Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office located for this street?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.