Guideline Value for DURUGAN COLONY

Durugan Colony guideline value

The current guideline value of Durugan Colony is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Vellivoyal village, under the Thiruvottiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Durugan Colony has changed

The guideline value for Durugan Colony has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2023. The latest revision in 2024 raised the value further to Rs 550 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

It is important to mention that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The guideline value has risen by 49% from 2017 to 2023, reflecting a steady upward trend in the revisions.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 715 per sq.ft. The median value is Rs 440 per sq.ft, and Durugan Colony's 2024 figure of Rs 550 per sq.ft is above this median.

• Ekkal Colony: Rs 440 per sq.ft (2024)
• Devi Karumari Nagar/ Ext: Rs 495 per sq.ft (2024)
• Charles Nagar: Rs 440 per sq.ft (2024)
• Asirvadham Nagar: Rs 440 per sq.ft (2024)
• Ambal Nagar/Ext: Rs 715 per sq.ft (2024)
• Al Mass Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Durugan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durugan Colony?

The Sub Registrar Office that covers Durugan Colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Vellivoyal, the guideline value will be used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal complications during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Durugan Colony?

The current guideline value of Durugan Colony is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing an overall increase of 64%.

What are the other streets in Vellivoyal with their guideline values?

Other streets in Vellivoyal include Ekkal Colony at Rs 440 per sq.ft, Devi Karumari Nagar/Ext at Rs 495 per sq.ft, and Ambal Nagar/Ext at Rs 715 per sq.ft, among others.

What fees are associated with buying property in Durugan Colony?

When buying property in Durugan Colony, buyers should expect to pay stamp duty at 7% of the guideline value and a registration fee at 2% of the guideline value.

Where can I find the Sub Registrar Office for Durugan Colony?

The Sub Registrar Office for Durugan Colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.