Guideline Value for Durga Colony 2nd Street

Durga Colony 2nd Street guideline value

The current guideline value of Durga Colony 2nd 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 Street has changed

Over the years, the guideline value for Durga Colony 2nd Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,340 per sq.ft. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, followed by a rise to Rs 2,150 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 8%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register.

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 is Rs 2,150 per sq.ft, which aligns with the current value of Durga Colony 2nd Street.

• Durga Colony 2nd Cross 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)
• Durga Colony 1st Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 1st Cross Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony 2nd 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 at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to 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 detailed calculations.

Which Sub Registrar Office covers Durga Colony 2nd Street?

The Sub Registrar Office that covers Durga Colony 2nd 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 during property transactions in Rajakilpakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering any property sale. Buyers and sellers must ensure that the sale price is aligned with the guideline value to avoid discrepancies during registration.

When a property is sold, the seller must declare the sale price, and the registration office will charge the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

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

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

What are the stamp duty and registration fees for properties in this area?

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

Where is the Sub Registrar Office located for this street?

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