Guideline Value for Durga Colony

Durga Colony guideline value

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

How the guideline value of Durga Colony has changed

Over the years, the guideline value of Durga Colony has seen several revisions. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which then decreased 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 most recent 2024 revision set it at Rs 2,150 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The change from 2023 to 2024 reflects an 8% increase, leading to an overall increase of 8% from 2012 to 2024.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which is equal to the guideline value of Durga Colony.

• Durga Colony 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 1st Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 2nd Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 3rd Cross Street: Rs 2,150 per sq.ft (2024)
• Durga Colony 3rd Street: Rs 2,150 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 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty, charged at 7%, would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000. Together, the total cost for stamp duty and registration fee would be Rs 1,93,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durga Colony?

The Sub Registrar Office that covers Durga Colony 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 when buying or selling property in Rajakilpakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value as per government regulations.

Additionally, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with property transactions. Buyers and sellers must be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Durga Colony?

The current guideline value of Durga Colony 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 increased 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?

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

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 Durga Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,50,500.