Guideline Value for D-SILVA ROAD

D-Silva Road guideline value

The current guideline value of D-Silva Road is Rs 16,500 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of D-Silva Road has changed

The guideline value for D-Silva Road has seen significant changes over the years. In 2002, the value was Rs 1,424 per sq.ft, which increased to Rs 1,813 per sq.ft in 2003. The value then rose to Rs 1,950 per sq.ft in 2007, marking an increase of 8%. The most substantial jump occurred between 2007 and 2012, where the value surged to Rs 15,000 per sq.ft, reflecting a remarkable increase of 669%. However, it decreased to Rs 10,050 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 15,000 per sq.ft, showing a 49% increase. The latest revision in 2024 set the value at Rs 16,500 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,059%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making D-Silva Road's 2024 guideline value above that median.

• D'silva Lane: Rs 9,900 per sq.ft (2024)
• Dr. Sivasamy Salai (Cit Colony 1st Cross St To North End Of The Street): Rs 15,900 per sq.ft (2024)
• Dr.Ranga Salai: Rs 16,500 per sq.ft (2024)
• Durga Bai Deshmuk Road: Rs 17,600 per sq.ft (2024)
• Dr.Radhakrishnan Salai (T.T.K. Road To Dr. Natesan Salai): Rs 25,800 per sq.ft (2024)
• DR. RADHAKRISHNAN SALAI (Dr.Natesan Road to Kamarajar Salai): Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in D-Silva Road

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would amount to Rs 11,55,000, while the registration fee at 2% would be Rs 3,30,000. Together, the total cost for these fees would be Rs 14,85,000. 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 D-Silva Road?

The Sub Registrar Office that covers D-Silva Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Mylapore. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per the government guidelines.

When buying or selling property, the guideline value helps in assessing the official worth of the property. This value is crucial for both buyers and sellers to understand the financial implications of their transactions, as it directly affects the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of D-Silva Road?

The current guideline value of D-Silva Road is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,424 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, marking an overall increase of 1,059% over the years.

What is the land classification for D-Silva Road?

D-Silva Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property on D-Silva Road?

For a property valued at Rs 1,65,00,000, the stamp duty would be Rs 11,55,000 and the registration fee would be Rs 3,30,000, totaling Rs 14,85,000.

Where is the Sub Registrar Office for D-Silva Road located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.