Guideline Value for D.R.R. Nagar

D.R.R. Nagar guideline value

The current guideline value of D.R.R. Nagar, located in Chennerkuppam village, falls under the Kunrathur SRO and is classified as Residential Class II Type - II. As of the 2024 revision, the guideline value is Rs 1,100 per sq.ft, effective from 1 July 2024.

How the guideline value of D.R.R. Nagar has changed

The guideline value for D.R.R. Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 233% rise. However, the value then decreased to Rs 670 per sq.ft in 2017, reflecting a decline of 33%. The next revision in 2023 set the value at Rs 1,000 per sq.ft, which was a notable increase of 49% from the previous figure. Currently, the 2024 revision has established the guideline value at Rs 1,100 per sq.ft, indicating a 10% increase from 2023.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing D.R.R. Nagar's 2024 figure below that median.

• Chinnappa Garden\Nagar: Rs 1,540 per sq.ft (2024)
• Gangai Amman Nagar: Rs 1,430 per sq.ft (2024)
• By-Pass Road: Rs 6,895 per sq.ft (2024)
• Jayasali Nagar: Rs 1,430 per sq.ft (2024)
• J.D. Nagar: Rs 1,540 per sq.ft (2024)
• Jeevan Prekash Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in D.R.R. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers D.R.R. Nagar?

D.R.R. Nagar falls under the jurisdiction of 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 Chennerkuppam

The guideline value plays a crucial role during the registration of property transactions in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transaction. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of D.R.R. Nagar?

The current guideline value of D.R.R. Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267%.

What is the land classification for D.R.R. Nagar?

D.R.R. Nagar is classified as Residential Class II Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in D.R.R. Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would be Rs 99,000.

Which office handles registrations for D.R.R. Nagar?

The Kunrathur Sub Registrar Office is responsible for handling registrations for D.R.R. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.