Guideline Value for DRR nagar

DRR nagar guideline value

The current guideline value of DRR nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This locality is situated in Poonthamallee village and falls under the Poonamallee SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of DRR nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The trend reversed in the 2023 revision, where the value rose to Rs 2,500 per sq.ft, and further increased to Rs 2,740 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 585%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing DRR nagar's 2024 figure above this median.

• Durga nagar: Rs 2,200 per sq.ft (2024)
• East mada veethi: Rs 2,200 per sq.ft (2024)
• Easwaran koil vadavandai mada veethi: Rs 2,200 per sq.ft (2024)
• Easwari nagar: Rs 2,200 per sq.ft (2024)
• Dharmaraja koil street: Rs 2,200 per sq.ft (2024)
• Dhakshinamoorthi nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in DRR nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,740 per sq.ft, the guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, while the registration fee at 2% would be Rs 54,800, totaling Rs 2,46,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers DRR nagar?

The Sub Registrar Office that covers DRR nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of a property. Buyers and sellers must refer to the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction is recorded accurately and in accordance with the law.

Frequently asked questions

What is the current guideline value of DRR nagar?

The current guideline value of DRR nagar is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 400 per sq.ft to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 585%.

What is the land classification for DRR nagar?

DRR nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the median guideline value for streets in Poonthamallee?

The median guideline value for the 257 streets in Poonthamallee is Rs 2,200 per sq.ft, with DRR nagar's current value being above this median.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more details through the provided link.