Guideline Value for Duraiswamy Reddy St

Duraiswamy Reddy St guideline value

The current guideline value of Duraiswamy Reddy St is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Commercial Class I Type - II.

How the guideline value of Duraiswamy Reddy St has changed

The guideline value for Duraiswamy Reddy St has seen several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 4,020 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and most recently, it has increased to Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 164%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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, with a median of Rs 3,300 per sq.ft. The guideline value of Duraiswamy Reddy St is above this median.

• Duraisamy Street: Rs 5,500 per sq.ft (2024)
• Durgas Road: Rs 2,200 per sq.ft (2024)
• Doctors Colony: Rs 1,320 per sq.ft (2024)
• Elumalai Street: Rs 6,600 per sq.ft (2024)
• Dharma Thottam: Rs 2,200 per sq.ft (2024)
• Erikarai Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Duraiswamy Reddy St

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, resulting in a total of Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Duraiswamy Reddy St?

The Duraiswamy Reddy St falls under 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 in property transactions in Tambaram. It is used to determine the stamp duty and registration fees that must be paid when purchasing or selling property. Buyers and sellers should be aware that the guideline value will influence the overall costs associated with the transaction.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is documented accurately. It is essential for both buyers and sellers to understand how this value is applied to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Duraiswamy Reddy St?

The current guideline value of Duraiswamy Reddy St is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the registration office for Duraiswamy Reddy St?

The registration office covering Duraiswamy Reddy St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Duraiswamy Reddy St?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the transaction is documented accurately and reflects the official valuation of the property.