Guideline Value for Durga Colony 3rd Cross Street

Durga Colony 3rd Cross Street guideline value

The current guideline value of Durga Colony 3rd 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 3rd Cross Street has changed

The guideline value for Durga Colony 3rd Cross Street has seen several revisions over the years. The 2024 revision reflects a guideline value of Rs 2,150 per sq.ft, which is an increase from the 2023 revision of Rs 2,000 per sq.ft, marking an 8% rise. Prior to that, the 2017 revision set the value at Rs 1,340 per sq.ft, which indicates a significant increase of 49% from the 2017 to 2023 period. The 2012 revision had a value of Rs 2,000 per sq.ft, showing a decrease of 33% when compared to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 revision marked a notable figure, but it was not consistent with the subsequent 2017 revision. The fluctuations in the guideline value reflect changes in the local real estate landscape over the years.

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 is equal to the current guideline value of Durga Colony 3rd Cross Street.

• Durga Colony 1st Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 3rd Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, while the registration fee at 2% would be Rs 43,000. Together, the total fees would be Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate these fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durga Colony 3rd Cross Street?

The Sub Registrar Office that covers Durga Colony 3rd 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 serves as a benchmark for determining the minimum value of a property during a sale. Buyers and sellers must be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value helps to ensure transparency and fairness in the valuation process. It is essential for both parties to understand that the registration fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durga Colony 3rd Cross Street?

The current guideline value of Durga Colony 3rd 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 1,340 per sq.ft in 2017 to Rs 2,150 per sq.ft in 2024, reflecting various revisions over the years.

What is the stamp duty for property in Durga Colony 3rd Cross Street?

The stamp duty for property in Durga Colony 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office 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.

What are the other streets in Rajakilpakkam with the same guideline value?

Other streets in Rajakilpakkam with the same guideline value of Rs 2,150 per sq.ft include Durga Colony 1st Street, Durga Colony 2nd Street, Durga Colony 2nd Cross Street, Durga Colony 3rd Street, Durga Colony 4th Cross Street, and Durga Colony 4th Street.