Guideline Value for Durga Colony 2nd Cross Street

Durga Colony 2nd Cross Street guideline value

The current guideline value of Durga Colony 2nd Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Durga Colony 2nd Cross Street has changed

The guideline value for Durga Colony 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,150 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

In summary, the revisions show a fluctuation in values, with the 2023 to 2024 change being an 8% increase, and a notable 49% increase from 2017 to 2023. The overall change from 2012 to 2024 reflects an 8% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 value is Rs 2,150 per sq.ft, which is equal to the guideline value of Durga Colony 2nd Cross Street.

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

Stamp duty and registration fee for property in Durga Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline rate of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, making the total fees Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durga Colony 2nd Cross Street?

The Sub Registrar Office that covers Durga Colony 2nd Cross 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 in the property registration process in Rajakilpakkam. It establishes a baseline for property transactions, ensuring that the property is registered at a value that reflects its market worth as determined by the authorities.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Durga Colony 2nd Cross Street?

The current guideline value of Durga Colony 2nd Cross 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 of Durga Colony 2nd Cross Street?

Durga Colony 2nd Cross Street is classified as Residential Class I Type - I.

What are the registration fees for property transactions in this area?

The registration fees for property transactions are calculated based on the guideline value, which is currently Rs 2,150 per sq.ft. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,93,500.

Where can I find the Selaiyur Sub Registrar Office?

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