Guideline Value for Duraimugam Colony

Duraimugam Colony guideline value

The current guideline value of Duraimugam Colony is Rs 4,400 per sq.ft, effective from 1 July 2024. This colony is located in Kolathur village, under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Duraimugam Colony has changed

Since the 2007 revision, the guideline value of Duraimugam Colony has seen significant changes. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a 300% rise. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which set it at Rs 4,000 per sq.ft again. The most recent revision in 2024 has increased the guideline value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Duraimugam Colony's 2024 figure above this median.

• Duraisamy Street: Rs 3,300 per sq.ft (2024)
• Durga Colony: Rs 3,300 per sq.ft (2024)
• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Durga Nagar: Rs 3,300 per sq.ft (2024)
• East Railway Gate: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Duraimugam Colony

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, bringing the total to 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Duraimugam Colony?

The Sub Registrar Office that covers Duraimugam Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an important factor in the registration of property transactions in Kolathur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buying or selling property, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Duraimugam Colony?

The current guideline value of Duraimugam Colony 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 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking a total increase of 340% over the years.

What is the land classification for Duraimugam Colony?

Duraimugam Colony is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated in Duraimugam Colony?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.