Guideline Value

Corporate

Guideline Value for DRIVERS COLONY

₹4400/sq.ft.

The guideline value for Drivers Colony in Tnagar village (Thiyagaraya Nagar SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Tnagar

Village

Thiyagaraya Nagar

SRO

Residential Class III Type - III
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1357 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1222 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

27/14,vetnari Hospital Road Panpet Nandhanam Chennai-35
044-24340958
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Drivers Colony

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Drivers Colony guideline value

The current guideline value of Drivers Colony, located in Tnagar village under the Thiyagaraya nagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - III land classification.

How the guideline value of Drivers Colony has changed

The guideline value of Drivers Colony has seen significant changes over the years. In 2002, the value was Rs 1,222 per sq.ft, which increased to Rs 1,357 per sq.ft in 2003, marking an 11% rise. The value further increased to Rs 2,000 per sq.ft in 2007, reflecting a 47% increase. By 2012, the value reached Rs 4,000 per sq.ft, representing a 100% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 2,680 per sq.ft. In 2023, the value rose to Rs 4,000 per sq.ft, and the latest revision in 2024 set it at Rs 4,400 per sq.ft, showing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 260%. There are no figures available for the revisions in years other than those specified.

Guideline values in Tnagar

The guideline values in Tnagar vary significantly, with a total of 262 streets under the Thiyagaraya nagar SRO carrying a 2024 figure ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Drivers Colony's 2024 figure below that median.

Stamp duty and registration fee for property in Drivers Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Drivers Colony?

The Sub Registrar Office that covers Drivers Colony is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. 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.

When a property is sold, the guideline value helps to determine the minimum price at which the property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Drivers Colony?

The current guideline value of Drivers Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,222 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 260% over this period.

What is the registration office for Drivers Colony?

The registration office for Drivers Colony is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for property in Drivers Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.

What are the guideline values of other streets in Tnagar?

Other streets in Tnagar have varying guideline values. For instance, Dr. Nair Road is valued at Rs 22,000 per sq.ft, while Dr. Sadasivam Street is at Rs 13,200 per sq.ft.