Guideline Value for Duraisamy Street

Duraisamy Street guideline value

The current guideline value of Duraisamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Duraisamy Street has changed

The guideline value for Duraisamy Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revision in 2024 has brought the value back to Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no figures available for Duraisamy Street in the 2023, 2003, and 2002 revisions. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which matches the current guideline value of Duraisamy Street.

• Durga Colony: Rs 3,300 per sq.ft (2024)
• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Duraimugam Colony: Rs 4,400 per sq.ft (2024)
• Durga Nagar: Rs 3,300 per sq.ft (2024)
• East Railway Gate: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Duraisamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Street?

The Sub Registrar Office that covers Duraisamy Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Kolathur. It serves as a benchmark for determining 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 helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a reasonable price based on the current rates.

Frequently asked questions

What is the current guideline value of Duraisamy Street?

The current guideline value of Duraisamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Duraisamy Street?

Duraisamy Street is classified as Residential Class I Type - I.

Where is the Sembiam SRO located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Duraisamy Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.