Guideline Value for Durgai Nagar

Durgai Nagar guideline value

The current guideline value of Durgai Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Durgai Nagar has changed

In the 2012 revision, the guideline value for Durgai Nagar was set at Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Durgai Nagar's 2024 figure is below this median.

• Durga Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Durai swamy Naicker St (Ward No.9): Rs 1,300 per sq.ft (2024)
• Duraisamy st (Ward No.10): Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker Thottam: Rs 1,300 per sq.ft (2024)
• Duraisamy Naicker St (Ward-10): Rs 1,300 per sq.ft (2024)
• Duraisamy Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Durgai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. Please note that 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 Durgai Nagar?

The Sub Registrar Office that covers Durgai Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process for property transactions in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

When you buy or sell property in Durgai Nagar, the guideline value helps in assessing the legal and financial aspects of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Durgai Nagar?

The current guideline value of Durgai Nagar 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 seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% over this period. The value remained unchanged from 2012 to 2023.

What is the land classification of Durgai Nagar?

Durgai Nagar falls under the Residential Class III Type - I land classification, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000 in Durgai Nagar, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Durgai Nagar?

The Madhavaram Sub Registrar Office, which covers Durgai Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration processes for the area.