Guideline Value for Durga Colony

Durga Colony guideline value

The current guideline value of Durga Colony, located in Kolathur village under the Sembiam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Durga Colony has changed

The guideline value for Durga Colony has seen several revisions over the years. Starting from Rs 234 per sq.ft in 2002, it increased to Rs 254 per sq.ft in 2003, reflecting a change of +9%. The value then surged to Rs 700 per sq.ft in 2007, marking a significant increase of +176%. Following that, the value rose dramatically to Rs 3,000 per sq.ft in 2012, a change of +329%. However, the value dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of -33%. The most recent revision in 2024 brought the guideline value back up to Rs 3,300 per sq.ft, an increase of +64% from 2017. Notably, there is no figure for this street in the 2023 revision.

Overall, from 2002 to 2024, the guideline value has increased by +1310%, showcasing the significant changes in property valuation in this area over the years.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Durga Colony's 2024 figure at the median level.

• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Duraisamy Street: Rs 3,300 per sq.ft (2024)
• Durga Nagar: Rs 3,300 per sq.ft (2024)
• Duraimugam Colony: Rs 4,400 per sq.ft (2024)
• East Railway Gate: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Durga Colony?

The Sub Registrar Office that covers Durga Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is an essential factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is crucial for legal documentation and helps in the smooth processing of property transactions at the Sembiam SRO.

Frequently asked questions

What is the current guideline value of Durga Colony?

The current guideline value of Durga Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 234 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +1310% over the years.

What is the land classification for Durga Colony?

Durga Colony is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in Durga Colony.

How is stamp duty calculated for property in Durga Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 33,00,000, with a stamp duty of Rs 2,31,000 at 7%.