Guideline Value for D.S.P. Street

D.S.P. Street guideline value

The current guideline value of D.S.P. Street in Velachery village, under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of D.S.P. Street has changed

The guideline value of D.S.P. Street has seen several revisions over the years. In 2002, the value was Rs 305 per sq.ft, which increased to Rs 342 per sq.ft in 2003. Following this, the value experienced significant growth, reaching Rs 1,500 per sq.ft in 2007. The 2012 revision brought the value back down to Rs 3,500 per sq.ft, before it increased to Rs 2,345 per sq.ft in 2017. The most recent revisions show the value rising to Rs 3,500 per sq.ft in 2023, and now, it stands at Rs 3,850 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2002 to 2003, the increase was +12%. The value surged by +339% from 2003 to 2007. The 2007 to 2012 period saw a decrease of -33%. After that, the value rose by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1162%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that D.S.P. Street's current guideline value is below this median.

• Dr Seetharam Nagar East: Rs 5,500 per sq.ft (2024)
• Dr. Seetharam Nagar: Rs 5,500 per sq.ft (2024)
• Dr. Seethapathy Nagar 100ft Tharamani Link Road: Rs 13,200 per sq.ft (2024)
• Dr. Seethapathy Nagar: Rs 4,400 per sq.ft (2024)
• Dutha Street: Rs 3,850 per sq.ft (2024)
• East Mada Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in D.S.P. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Therefore, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers D.S.P. Street?

The Sub Registrar Office that covers D.S.P. Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction reflects the official valuation set by the authorities, which is essential for maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of D.S.P. Street?

The current guideline value of D.S.P. Street is Rs 3,850 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 305 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1162% over the years.

What are the stamp duty and registration fees for property in D.S.P. Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for D.S.P. Street?

The Velacheri Sub Registrar Office handles registrations for D.S.P. Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of properties and is essential for calculating stamp duty and registration fees during property transactions in Velachery.