Guideline Value for Duraisamy Nagar

Duraisamy Nagar guideline value

The current guideline value of Duraisamy Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Duraisamy Nagar has changed

Over the years, the guideline value of Duraisamy Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 1,300 per sq.ft, representing a 62% increase from the 2017 figure.

When considering the overall change from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. 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 Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Duraisamy Nagar's 2024 figure is below this median.

• Duraisamy Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker St (Ward-10): Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker Thottam: Rs 1,300 per sq.ft (2024)
• Duraisamy st (Ward No.10): Rs 1,300 per sq.ft (2024)
• Durai swamy Naicker St (Ward No.9): Rs 1,300 per sq.ft (2024)
• Durgai Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraisamy Nagar?

The Sub Registrar Office that covers Duraisamy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

When a property is sold, the guideline value is used to calculate 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.

Frequently asked questions

What is the current guideline value of Duraisamy Nagar?

The current guideline value of Duraisamy Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the registration office for Duraisamy Nagar?

The registration office for Duraisamy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Duraisamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 91,000.

What are the other streets with the same guideline value in Madhavaram?

Other streets in Madhavaram with the same guideline value of Rs 1,300 per sq.ft include Duraisamy Naicker St, Duraisamy Naicker Thottam, Duraisamy st (Ward No.10), Durai swamy Naicker St (Ward No.9), and Durgai Nagar.