Guideline Value for Durga Colony 1st Street

Durga Colony 1st Street guideline value

The current guideline value of Durga Colony 1st Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Durga Colony 1st Street has changed

The guideline value for Durga Colony 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This figure remained unchanged until 2017 when it dropped to Rs 1,340 per sq.ft, representing a decrease of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% rise from the 2017 revision. The current guideline value is Rs 2,150 per sq.ft, which reflects an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which is the same as the current guideline value for Durga Colony 1st Street.

• Durga Colony 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 3rd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 3rd Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty is charged at 7%, which totals Rs 1,50,500, and the registration fee is charged at 2%, amounting to Rs 43,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,93,500. It is essential 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 Durga Colony 1st Street?

The Sub Registrar Office that covers Durga Colony 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Rajakilpakkam

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. This ensures transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Durga Colony 1st Street?

The current guideline value of Durga Colony 1st Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Durga Colony 1st Street?

Durga Colony 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Durga Colony 1st Street?

For a property valued at Rs 21,50,000, the stamp duty is Rs 1,50,500 and the registration fee is Rs 43,000, totaling Rs 1,93,500.

Where is the Sub Registrar Office for Durga Colony 1st Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.