Guideline Value for Duraiswamy Mudaliar Street

Duraiswamy Mudaliar Street guideline value

The current guideline value of Duraiswamy Mudaliar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village under the Redhills SRO, classified as Commercial Class I Type - I.

How the guideline value of Duraiswamy Mudaliar Street has changed

The guideline value for Duraiswamy Mudaliar Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, there was a 10% increase. The overall change from 2007 to 2024 is a substantial 371% increase. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Naravarikuppam

Naravarikuppam has a total of 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 guideline value for the village is Rs 1,650 per sq.ft, placing Duraiswamy Mudaliar Street above this median.

• Duraiswamy Street: Rs 1,650 per sq.ft (2024)
• Duraisamy Reddy 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 Duraiswamy Mudaliar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Duraiswamy Mudaliar Street?

The Sub Registrar Office that covers Duraiswamy Mudaliar 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 plays a crucial role during the registration of property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is accurately reflected in official records. This value helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Duraiswamy Mudaliar Street?

The current guideline value of Duraiswamy Mudaliar 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What is the registration office for this street?

The registration office for Duraiswamy Mudaliar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, with Duraiswamy Mudaliar Street's value being above this median.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.