Guideline Value for D.E.D 7th Street

D.E.D 7th Street guideline value

The current guideline value of D.E.D 7th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of D.E.D 7th Street has changed

The guideline value for D.E.D 7th Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 500 per sq.ft. This value increased significantly to Rs 2,400 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. A notable decrease occurred in 2017, with the value dropping to Rs 2,345 per sq.ft. However, from 2017 to 2023, the value surged to Rs 3,500 per sq.ft, before reaching the current figure of Rs 3,900 per sq.ft in 2024.

In summary, the changes between revisions are as follows: from 2003 to 2007, the value increased by 380%; it then decreased by 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023 and has risen by 11% from 2023 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for D.E.D 7th Street.

• D.E.D 6th Street: Rs 3,900 per sq.ft (2024)
• D.E.D 8th Street: Rs 3,900 per sq.ft (2024)
• D.E.D 5th Street: Rs 3,900 per sq.ft (2024)
• D.E.D 9th street: Rs 3,900 per sq.ft (2024)
• D.E.D 4th Street: Rs 3,900 per sq.ft (2024)
• D.E.D 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in D.E.D 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers D.E.D 7th Street?

The D.E.D 7th Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kottivakkam. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Furthermore, the guideline value is regularly revised to reflect changes in the real estate market. Buyers and sellers should be aware of these values as they can significantly impact the total costs involved in property transactions.

Frequently asked questions

What is the current guideline value of D.E.D 7th Street?

The current guideline value of D.E.D 7th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 680% over this period.

What is the land classification for D.E.D 7th Street?

D.E.D 7th Street is classified as Residential Class II Type - I under the Adayar SRO.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How do stamp duty and registration fees work for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers to be aware of these costs when engaging in property transactions.