Guideline Value for Duraisamy Reddy Street

Duraisamy Reddy Street guideline value

The current guideline value of Duraisamy Reddy Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Duraisamy Reddy Street has changed

The guideline value for Duraisamy Reddy Street has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this value dropped to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam village, there are 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value of Duraisamy Reddy Street.

• Duraiswamy Mudaliar Street: Rs 3,300 per sq.ft (2024)
• Duraiswamy Street: Rs 1,650 per sq.ft (2024)
• Durai Abdul Vahab Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Kadhar Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Abha Sahib Street: Rs 1,320 per sq.ft (2024)
• Dr. Varatharajanar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Reddy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 precise calculations.

Which Sub Registrar Office covers Duraisamy Reddy Street?

The Sub Registrar Office that covers Duraisamy Reddy 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 Naravarikuppam

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the government. This process aids in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Duraisamy Reddy Street?

The current guideline value of Duraisamy Reddy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 313% across the revisions.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Duraisamy Reddy Street?

The Redhills Sub Registrar Office handles registrations for Duraisamy Reddy Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Duraisamy Reddy Street?

Duraisamy Reddy Street is classified as Residential Class II Type - I, indicating its suitability for residential development.