Guideline Value for Sri Durga Nagar

Sri Durga Nagar guideline value

The current guideline value of Sri Durga Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sri Durga Nagar has changed

The guideline value for Sri Durga Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Sri Durga Nagar is below this median.

• Sri Ganesh Nagar: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar: Rs 2,200 per sq.ft (2024)
• Sri Maruthi Avenue: Rs 1,320 per sq.ft (2024)
• South Street: Rs 3,300 per sq.ft (2024)
• Solomon Street: Rs 1,320 per sq.ft (2024)
• Srinivasan Street (Reddy Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Durga Nagar

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 at 7% would be Rs 1,54,000, and 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Durga Nagar?

The Sub Registrar Office that covers Sri Durga Nagar is 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

When buying or selling property in Tambaram, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately.

The guideline value is used to assess the minimum value of the property for taxation purposes. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions in Tambaram.

Frequently asked questions

What is the current guideline value of Sri Durga Nagar?

The current guideline value of Sri 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the median guideline value in Tambaram?

The median guideline value for the 360 streets in Tambaram under the Tambaram Joint 1 SRO is Rs 3,300 per sq.ft.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Sri Durga Nagar located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.