Guideline Value for Durgas Road

Durgas Road guideline value

The current guideline value of Durgas Road, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Durgas Road has changed

Over the years, the guideline value of Durgas Road has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then changed to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Durgas Road.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, placing Durgas Road's 2024 guideline value below this median.

• Duraiswamy Reddy St: Rs 6,600 per sq.ft (2024)
• Duraisamy Street: Rs 5,500 per sq.ft (2024)
• Elumalai Street: Rs 6,600 per sq.ft (2024)
• Doctors Colony: Rs 1,320 per sq.ft (2024)
• Erikarai Street: Rs 2,200 per sq.ft (2024)
• Ethirajapuram Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Durgas Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to 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 Durgas Road?

Durgas Road falls under the jurisdiction of the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in property transactions in Tambaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is a reference point for the government to assess the value of the property being registered.

When selling property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Durgas Road?

The current guideline value of Durgas Road 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Durgas Road?

Durgas Road is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Durgas Road?

The Sub Registrar Office covering Durgas Road is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties on Durgas Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.