Guideline Value for DURGA COLONY (PART)

Durga Colony (Part) guideline value

The current guideline value of Durga Colony (Part) in Zaminpallavaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Commercial Class I Type - III.

How the guideline value of Durga Colony (Part) has changed

The guideline value for Durga Colony (Part) has seen several revisions over the years. In 2012, the guideline value was set at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the most notable changes include a 33% decrease from 2012 to 2017, followed by a substantial 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 shows a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Durga Colony (Part) above this median at Rs 4,400 per sq.ft.

• Durga Colony Cross Street: Rs 4,400 per sq.ft (2024)
• Durga Colony 1 To 4 Streets: Rs 4,400 per sq.ft (2024)
• Duraipandiyan Street: Rs 3,300 per sq.ft (2024)
• Duraipakkam Pallavaram Link Road (200 Feet Road): Rs 4,400 per sq.ft (2024)
• Duraikannu Road: Rs 3,300 per sq.ft (2024)
• Durga Road (Part): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony (Part)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durga Colony (Part)?

The Sub Registrar Office that covers Durga Colony (Part) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During registration, the authorities will assess the property based on the guideline value to ensure compliance with legal requirements. This process helps to maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Durga Colony (Part)?

The current guideline value of Durga Colony (Part) 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision.

What is the land classification of Durga Colony (Part)?

Durga Colony (Part) is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

How is stamp duty calculated in Durga Colony (Part)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Durga Colony (Part)?

The Sub Registrar Office for Durga Colony (Part) is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.