Guideline Value for Duraisamy Road

Duraisamy Road guideline value

The current guideline value of Duraisamy Road is Rs 6,050 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Duraisamy Road has changed

The guideline value for Duraisamy Road has seen significant changes over the years. In 2002, the value was Rs 316 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 122% rise. Following this, the value continued to grow, reaching Rs 1,100 per sq.ft in 2007, a 57% increase from the previous year. The 2012 revision saw the value rise to Rs 5,500 per sq.ft, reflecting a 400% increase from 2007. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The value then increased again to Rs 5,500 per sq.ft in 2023, followed by a further increase to Rs 6,050 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,815%. The register has no figures for revisions in years other than those listed.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Duraisamy Road's 2024 figure above this median.

• Elango Nagar 1st Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 2nd Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 3rd Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar 5th Street: Rs 5,500 per sq.ft (2024)
• Elango Nagar Annexe: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Road

For a 1,000 sq.ft plot at the current rate of Rs 6,050 per sq.ft, the guideline value would be Rs 60,50,000. The stamp duty at 7% would be Rs 4,23,500, and the registration fee at 2% would be Rs 1,21,000, totaling Rs 5,44,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraisamy Road?

The Sub Registrar Office that covers Duraisamy Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price; otherwise, it is based on the guideline value.

Frequently asked questions

What is the current guideline value of Duraisamy Road?

The current guideline value of Duraisamy Road is Rs 6,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 316 in 2002 to Rs 6,050 in 2024, reflecting an overall increase of 1,815% over the years.

What is the land classification of Duraisamy Road?

Duraisamy Road is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property on Duraisamy Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,44,500, based on the current guideline value of Rs 60,50,000.

Which office handles registrations for properties on Duraisamy Road?

The Virugambakkam Sub Registrar Office handles registrations for properties on Duraisamy Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.