Guideline Value for Durga Colony 5th Cross Street

Durga Colony 5th Cross Street guideline value

The current guideline value of Durga Colony 5th 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 5th Cross Street has changed

The guideline value for Durga Colony 5th Cross Street has undergone several revisions over the years. 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 this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,150 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been 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 current value for Durga Colony 5th Cross Street.

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

Stamp duty and registration fee for property in Durga Colony 5th 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, bringing the total to Rs 1,93,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Durga Colony 5th Cross Street?

The Sub Registrar Office that covers Durga Colony 5th 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 during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durga Colony 5th Cross Street?

The current guideline value of Durga Colony 5th 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 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 for Durga Colony 5th Cross Street?

Durga Colony 5th Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property 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 for Durga Colony 5th Cross 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.