Guideline Value for Durga Nagar

Durga Nagar guideline value

The current guideline value of Durga Nagar, 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 Nagar has changed

The guideline value of Durga Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 233 per sq.ft. This increased to Rs 253 per sq.ft in 2003, marking a rise of 9%. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 177% increase. By 2012, the guideline value remained at Rs 3,000 per sq.ft, with no change from the previous revision. In 2023, the value was again Rs 3,000 per sq.ft, and in 2024, it increased by 10% to Rs 3,300 per sq.ft.

It is important to note that there is no figure for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1316%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with the 2024 guideline values 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, which is equal to the current guideline value of Durga Nagar.

• Durga Colony Extension: Rs 3,300 per sq.ft (2024)
• Durga Colony: Rs 3,300 per sq.ft (2024)
• Duraisamy Street: Rs 3,300 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)
• Duraimugam Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the stamp 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 Nagar?

The Sub Registrar Office that covers Durga Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

At the time of registration, the guideline value serves as a benchmark for the transaction value. If the sale price of the property is higher than the guideline value, the stamp duty and registration fees will be charged based on the sale price instead.

Frequently asked questions

What is the current guideline value of Durga Nagar?

The current guideline value of Durga Nagar 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 increased from Rs 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking a total increase of 1316% over this period.

What are the stamp duty and registration fees for property in Durga Nagar?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Durga Nagar?

The Sembiam Sub Registrar Office handles property registrations in Durga Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. If the sale price exceeds the guideline value, the duty is charged on the higher amount.