Guideline Value for DE-MONTE COLONY

De-Monte Colony guideline value

The current guideline value of De-Monte Colony is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of De-Monte Colony has changed

The guideline value for De-Monte Colony has seen significant changes over the years. In 2002, the value was Rs 768 per sq.ft. This increased to Rs 853 per sq.ft in 2003, marking an increase of 11%. The value rose substantially to Rs 1,540 per sq.ft in 2007, which was an increase of 81%. The 2012 revision maintained the value at Rs 8,000 per sq.ft, showing no change from the previous revision. In 2023, the value remained at Rs 8,000 per sq.ft, with no figure available for 2017 for this street. The most recent revision in 2024 raised the guideline value to Rs 8,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,046%. The changes between revisions indicate a significant rise in value, particularly from 2007 to 2012, which saw a remarkable increase of 419%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value for De-Monte Colony.

• De-Monte Street: Rs 8,800 per sq.ft (2024)
• Deiva Sigamani Road: Rs 8,800 per sq.ft (2024)
• Desigachari Road: Rs 13,200 per sq.ft (2024)
• Desikar Sesha Iyer Street: Rs 7,100 per sq.ft (2024)
• Devadi Street: Rs 8,800 per sq.ft (2024)
• Devanathan Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in De-Monte Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of Rs 7,92,000. 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 De-Monte Colony?

The Sub Registrar Office that covers De-Monte Colony is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of De-Monte Colony?

The current guideline value of De-Monte Colony is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 768 per sq.ft to Rs 8,800 per sq.ft in 2024, representing an overall increase of 1,046%.

What is the stamp duty rate for properties in De-Monte Colony?

The stamp duty rate for properties in De-Monte Colony is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for De-Monte Colony?

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

What are the other streets in Mylapore with similar guideline values?

Other streets in Mylapore with a guideline value of Rs 8,800 per sq.ft include De-Monte Street and Deiva Sigamani Road, among others.