Guideline Value for Duraiswamy Nagar

Duraiswamy Nagar guideline value

The current guideline value of Duraiswamy Nagar is Rs 3,300 per sq.ft. This area is located in Kilkattalai village under the Pallavaram SRO, classified as Mixed Type - II land.

How the guideline value of Duraiswamy Nagar has changed

The guideline value for Duraiswamy Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 176 per sq.ft. This increased to Rs 400 per sq.ft in 2007, then saw a significant rise to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were as follows: from 2003 to 2007, the value increased by 127%; from 2007 to 2012, it rose by 650%; however, from 2012 to 2017, it decreased by 33%. The value then increased by 49% from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by 1775%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value is Rs 2,530 per sq.ft, placing Duraiswamy Nagar's 2024 figure above this median.

• Duraisamy Nagar Ext, Darmaraja Street: Rs 3,300 per sq.ft (2024)
• Duraisamy Nagar Ext, Anna Street: Rs 3,300 per sq.ft (2024)
• Durairaj Nagar: Rs 2,530 per sq.ft (2024)
• Easwaran Koil Street: Rs 2,530 per sq.ft (2024)
• Easwaran Nagar: Rs 4,125 per sq.ft (2024)
• Easwaran Nagar 1 To 6 Streets: Rs 4,125 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 3,300 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 cost to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Duraiswamy Nagar?

The Sub Registrar Office that covers Duraiswamy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kilkattalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property rather than the negotiated sale price.

When buying or selling property, it is essential to refer to the guideline value to understand the financial obligations involved in the transaction. This value helps in determining the total costs, including any applicable duties and fees that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Duraiswamy Nagar?

The current guideline value of Duraiswamy Nagar 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 significantly, from Rs 176 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1775% over the years.

What is the registration office for Duraiswamy Nagar?

The registration office for Duraiswamy Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Duraiswamy Nagar?

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

What is the land classification of Duraiswamy Nagar?

Duraiswamy Nagar is classified as Mixed Type - II land, which impacts its guideline value and potential uses.