Guideline Value for Duraisamy Street

Duraisamy Street guideline value

The current guideline value of Duraisamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Duraisamy Street has changed

The guideline value for Duraisamy Street has seen several revisions over the years. In 2002, the guideline value was Rs 623 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking a change of +61%. The value then rose significantly to Rs 2,500 per sq.ft in 2007, which was a +150% increase. However, it decreased to Rs 5,000 per sq.ft in 2012, showing a decline of -33%. The value was then revised to Rs 3,350 per sq.ft in 2017, reflecting a +49% increase. Following this, the guideline value was set at Rs 5,000 per sq.ft in 2023, and finally increased to Rs 5,500 per sq.ft in 2024, which is a +10% change.

There are no figures available in the register for the years not mentioned in the revisions listed above.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Duraisamy Street's 2024 figure above that median.

• Duraiswamy Reddy St: Rs 6,600 per sq.ft (2024)
• Durgas Road: Rs 2,200 per sq.ft (2024)
• Doctors Colony: Rs 1,320 per sq.ft (2024)
• Dharma Thottam: Rs 2,200 per sq.ft (2024)
• Elumalai Street: Rs 6,600 per sq.ft (2024)
• Erikarai Street: 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 rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that 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 Street?

The Sub Registrar Office that covers Duraisamy Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the government receives the appropriate stamp duty and registration fees.

When you buy or sell property, the guideline value helps both parties agree on a fair price. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Duraisamy Street?

The current guideline value of Duraisamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 623 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +783% over the years.

What is the land classification of Duraisamy Street?

Duraisamy Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Duraisamy Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees would be Rs 4,95,000.

Where is the Sub Registrar Office for Duraisamy Street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.