Guideline Value

Corporate

Guideline Value for Drivers Colony Road

₹1300/sq.ft.

The guideline value for Drivers Colony Road in Tondaiarpet village (Royapuram SRO, Chennai zone) is Rs 1300 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Tondaiarpet

Village

Royapuram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1300 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.
044-25960108
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Drivers Colony Road

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Drivers Colony Road guideline value

The current guideline value of Drivers Colony Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Drivers Colony Road has changed

The guideline value of Drivers Colony Road has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, representing a decline of 33%. The next revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, followed by the current value of Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 117%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Drivers Colony Road is below this median.

Stamp duty and registration fee for property in Drivers Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 further calculations.

Which Sub Registrar Office covers Drivers Colony Road?

The Sub Registrar Office that covers Drivers Colony Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Tondaiarpet, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must refer to the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. It is essential for both parties to be aware of this value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Drivers Colony Road?

The current guideline value of Drivers Colony Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing an overall increase of 117% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Drivers Colony Road?

The Royapuram Sub Registrar Office handles property registrations for Drivers Colony Road, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Drivers Colony Road?

Drivers Colony Road falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.