Guideline Value for DURGA NAGAR

Durga Nagar guideline value

The current guideline value of Durga Nagar, located in Perumattu Nellore village under the Chengleput Joint II SRO, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Durga Nagar has changed

The guideline value for Durga Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision recorded a decrease to Rs 469 per sq.ft, followed by an increase to Rs 700 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, indicating a 0% change from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 700 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Durga Nagar is equal to this median.

• Gandhi Nagar Extension: Rs 800 per sq.ft (2024)
• Ganga Nagar: Rs 500 per sq.ft (2024)
• Gangapuram: Rs 500 per sq.ft (2024)
• Ganthi Nagar: Rs 800 per sq.ft (2024)
• Bhavathi Puram: Rs 500 per sq.ft (2024)
• Balaji Puram: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty is calculated at 7%, resulting in Rs 49,000, while the registration fee is charged at 2%, amounting to Rs 14,000. Together, the total cost for stamp duty and registration fee would be Rs 63,000. It is important to note that 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 details.

Which Sub Registrar Office covers Durga Nagar?

The Sub Registrar Office that covers Durga Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price according to government standards.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Durga Nagar?

The current guideline value of Durga Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the land classification for Durga Nagar?

Durga Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees in Durga Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a plot valued at Rs 7,00,000, the total fees would amount to Rs 63,000.

Which office handles property registrations in Durga Nagar?

The Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, is responsible for property registrations in Durga Nagar.