Guideline Value for Duraiswamy Nagar

Duraiswamy Nagar guideline value

The current guideline value of Duraiswamy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Porur village, under the Kunrathur Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Duraiswamy Nagar has changed

The guideline value for Duraiswamy Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 476 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a significant rise of 58%. The value then surged to Rs 3,200 per sq.ft in 2012, reflecting an increase of 327%. However, it decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,200 per sq.ft in 2023, and most recently, it has been revised to Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 639%. Each revision reflects changes in the real estate landscape and is crucial for property transactions in the area.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which indicates that the guideline value for Duraiswamy Nagar is below this median.

• Duraiswamy Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Duraiswamy Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Duraiswamy Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Duraiswamy Nagar 4th Street: Rs 3,960 per sq.ft (2024)
• Duraiswamy Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Eadayar Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration fee would be Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Duraiswamy Nagar?

The Sub Registrar Office that covers Duraiswamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Porur. It serves as a benchmark for determining the minimum value at which property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of property transactions. Ensuring compliance with the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Duraiswamy Nagar?

The current guideline value of Duraiswamy Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 476 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 639% from 2003 to 2024.

What is the registration office for Duraiswamy Nagar?

The registration office for Duraiswamy Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property in Duraiswamy Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at the rate of 7%.

What are the guideline values for other streets in Porur?

Other streets in Porur have varying guideline values. For instance, Duraiswamy Nagar 1st, 2nd, and Main Road have a guideline value of Rs 3,520 per sq.ft, while Duraiswamy Nagar 4th Street is valued at Rs 3,960 per sq.ft.