Guideline Value for Durga Colony 4th Cross Street

Durga Colony 4th Cross Street guideline value

The current guideline value for Durga Colony 4th 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 4th Cross Street has changed

Over the years, the guideline value for Durga Colony 4th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following that, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, it reached Rs 2,150 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

The changes between these revisions show a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

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 the same as the current guideline value for Durga Colony 4th Cross Street.

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

Stamp duty and registration fee for property in Durga Colony 4th 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 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 cost 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 detailed calculations.

Which Sub Registrar Office covers Durga Colony 4th Cross Street?

The Sub Registrar Office that covers Durga Colony 4th 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, within 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 property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees, which are mandatory for legal documentation. This ensures that the transaction is recorded accurately and transparently in the official registry.

Frequently asked questions

What is the current guideline value for Durga Colony 4th Cross Street?

The current guideline value for Durga Colony 4th 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 seen several revisions, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,150 per sq.ft in 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%.

What are the stamp duty and registration fees for property here?

For a 1,000 sq.ft plot, the total guideline value is Rs 21,50,000. The stamp duty at 7% is Rs 1,50,500, and the registration fee at 2% is Rs 43,000, totaling Rs 1,93,500.

Which office handles property registrations for this area?

The Selaiyur Sub Registrar Office handles property registrations for Durga Colony 4th Cross Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Durga Colony 4th Cross Street?

Durga Colony 4th Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.