Guideline Value for Driver's Colony

Driver's Colony guideline value

The current guideline value of Driver's Colony, located in Sekkadu village under the Avadi SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Driver's Colony has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 1,200 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for Driver's Colony. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets that carry a 2024 guideline value ranging from Rs 930 to Rs 4,800 per sq.ft, with the median value being Rs 1,320 per sq.ft. The guideline value for Driver's Colony aligns with this median.

• D.R.P. Nagar: Rs 2,250 per sq.ft (2024)
• Duraikannu Nagar: Rs 1,075 per sq.ft (2024)
• Dhanalakshmi Nagar Annuxe: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Devarajan Nagar: Rs 1,075 per sq.ft (2024)
• Eswaran Nagar: Rs 1,075 per sq.ft (2024)

Stamp duty and registration fee for property in Driver's Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Driver's Colony?

The Sub Registrar Office that covers Driver's Colony is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Sekkadu. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. Buyers should ensure they are aware of the current guideline value to accurately assess their costs during the transaction.

Frequently asked questions

What is the current guideline value of Driver's Colony?

The current guideline value of Driver's Colony is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the guideline values of other streets in Sekkadu?

Other streets in Sekkadu have varying guideline values, with D.R.P. Nagar at Rs 2,250 per sq.ft, Duraikannu Nagar at Rs 1,075 per sq.ft, and both Dhanalakshmi Nagar and Dhanalakshmi Nagar Annuxe at Rs 1,320 per sq.ft in 2024.

What fees are associated with buying property in Driver's Colony?

When buying property in Driver's Colony, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Driver's Colony?

The Avadi Sub Registrar Office covers Driver's Colony and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.