Guideline Value for Durga Colony 5th Street

Durga Colony 5th Street guideline value

The current guideline value of Durga Colony 5th Street is Rs 2,150 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Durga Colony 5th Street has changed

The guideline value for Durga Colony 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, reflecting a rise of 49%. The latest revision in 2024 has established the current guideline value at Rs 2,150 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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 is equal to the guideline value of Durga Colony 5th Street for 2024.

• Durga Colony 5th Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 4th 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 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 cost 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durga Colony 5th Street?

The Sub Registrar Office that covers Durga Colony 5th 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, under 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 plays a crucial role when buying or selling property 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 as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a specific percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

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

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.

How is stamp duty calculated in Rajakilpakkam?

Stamp duty in Rajakilpakkam is calculated based on the guideline value or the sale price of the property, whichever is higher. It is charged at a specific percentage of this value.