Guideline Value for Durga Colony 3rd Street

Durga Colony 3rd Street guideline value

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

The guideline value for Durga Colony 3rd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,150 per sq.ft, an increase of 8% from the 2023 figure of Rs 2,000 per sq.ft. Prior to that, the value was Rs 1,340 per sq.ft in 2017, reflecting a significant increase of 49% to the 2023 figure. The 2012 revision also had a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 8%. This indicates a steady adjustment in the values over the years, reflecting the changing landscape of the area.

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 for these streets is Rs 2,150 per sq.ft, which aligns with the guideline value of Durga Colony 3rd Street.

• Durga Colony 3rd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 5th Cross Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony 3rd 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durga Colony 3rd Street?

The Sub Registrar Office that covers Durga Colony 3rd 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 registration process for 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 revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it affects the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, impacting the total expenditure during the property transfer process.

Frequently asked questions

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

The current guideline value of Durga Colony 3rd 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 2023 to Rs 2,150 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Durga Colony 3rd Street?

Durga Colony 3rd Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where is the Sub Registrar Office for Durga Colony 3rd 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at 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.