Guideline Value for Duraiswamy Street

Duraiswamy Street guideline value

The current guideline value of Duraiswamy Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Duraiswamy Street has changed

The guideline value for Duraiswamy Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is noteworthy that there are no figures for Duraiswamy Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 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 value among these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Duraiswamy Street.

• Duraiswamy Mudaliar Street: Rs 3,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. 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 accurate calculations.

Which Sub Registrar Office covers Duraiswamy Street?

The Sub Registrar Office that covers Duraiswamy 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 details.

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

The guideline value is a crucial factor when registering property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Duraiswamy Street?

The current guideline value of Duraiswamy Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 313% over the years.

What is the land classification of Duraiswamy Street?

Duraiswamy Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Duraiswamy Street?

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

How is the stamp duty calculated for properties in Duraiswamy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.