Guideline Value for Durga Devi Nagar 2nd Cross Street

Durga Devi Nagar 2nd Cross Street guideline value

The current guideline value of Durga Devi Nagar 2nd Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Durga Devi Nagar 2nd Cross Street has changed

The guideline value for Durga Devi Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure was in 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2017, there was a significant decline of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Durga Devi Nagar 2nd Cross Street's 2024 figure below that median.

• Durga Devi Nagar 1st Cross Street: Rs 1,300 per sq.ft (2024)
• Durga Devi Nagar 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Durga Devi Nagar 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Durgadevi Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Durgadevi Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• East Kalmandapam Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Devi Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, calculated at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Therefore, the total cost for these fees would be Rs 1,17,000. It is important to note that the 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 Devi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Durga Devi Nagar 2nd Cross Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This value is assessed based on the location and classification of the property.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on 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 for Durga Devi Nagar 2nd Cross Street?

The current guideline value for Durga Devi Nagar 2nd Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Durga Devi Nagar 2nd Cross Street?

Durga Devi Nagar 2nd Cross Street is classified as Residential Class II Type - I.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles registrations for Durga Devi Nagar 2nd Cross Street?

The Royapuram Sub Registrar Office handles registrations for Durga Devi Nagar 2nd Cross Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.