Guideline Value for Durga nagar

Durga nagar guideline value

The current guideline value of Durga nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Durga nagar has changed

The guideline value for Durga nagar has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 150 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a change of +1233%. However, the value dropped to Rs 1,340 per sq.ft in the 2017 revision, a decrease of -33%. Following this, the 2023 revision set the value at Rs 2,000 per sq.ft, which then rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting an increase of +10%.

From 2017 to 2023, the guideline value increased by +49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by +1367%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Durga nagar.

• East mada veethi: Rs 2,200 per sq.ft (2024)
• Easwaran koil vadavandai mada veethi: Rs 2,200 per sq.ft (2024)
• Easwari nagar: Rs 2,200 per sq.ft (2024)
• DRR nagar: Rs 2,740 per sq.ft (2024)
• Etti annal nagar: Rs 2,200 per sq.ft (2024)
• Dharmaraja koil street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Durga nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the 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 nagar?

The Sub Registrar Office that covers Durga nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is considered to establish the minimum value for taxation purposes. This means that even if the sale price is lower, the stamp duty will be calculated based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durga nagar?

The current guideline value of Durga nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +1367%.

What is the land classification for Durga nagar?

Durga nagar is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Durga nagar?

The Sub Registrar Office for Durga nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

How is stamp duty calculated for properties in Durga nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,54,000.