Guideline Value for Duraisamy Reddiyar Street

Duraisamy Reddiyar Street guideline value

The current guideline value of Duraisamy Reddiyar Street is Rs 385 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Duraisamy Reddiyar Street has changed

The guideline value for Duraisamy Reddiyar Street has undergone several revisions over the years. In 2003, the value was Rs 31 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 545%. The value then saw a substantial increase to Rs 350 per sq.ft in 2012, which represented a 75% increase. However, in 2017, the value dropped to Rs 234 per sq.ft, reflecting a decrease of 33%. The next revision in 2023 brought the value back up to Rs 350 per sq.ft, a 50% increase from the previous figure. Finally, the current 2024 revision sets the value at Rs 385 per sq.ft, marking a 10% increase from 2023.

It is important to note that there is no figure available for Duraisamy Reddiyar Street in the 2002 revision.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Duraisamy Reddiyar Street's current value is below this median.

• Elanchezhian Street: Rs 660 per sq.ft (2024)
• Eswaran Koil Street: Rs 660 per sq.ft (2024)
• Eswaran Koil Street Lane: Rs 660 per sq.ft (2024)
• Dharmakartha Murugesan Street: Rs 770 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 770 per sq.ft (2024)
• Devaneya Pavanar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Reddiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total to Rs 34,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Duraisamy Reddiyar Street?

The Sub Registrar Office that covers Duraisamy Reddiyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padiyanallur. It serves as a reference point for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the registration reflects a fair value for the property.

Frequently asked questions

What is the current guideline value of Duraisamy Reddiyar Street?

The current guideline value of Duraisamy Reddiyar Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 31 per sq.ft in 2003 to Rs 385 per sq.ft in 2024, representing an overall increase of 1142% over the years.

What is the registration fee for properties on Duraisamy Reddiyar Street?

The registration fee for properties is 2% of the guideline value. For a property valued at Rs 3,85,000, the registration fee would be Rs 7,700.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Padiyanallur?

The stamp duty is calculated at 7% of the higher value between the guideline value and the sale price of the property. This ensures that the registration reflects the true value of the transaction.