Guideline Value for DEEPAM NAGAR PART-2

Deepam Nagar Part-2 guideline value

The current guideline value of Deepam Nagar Part-2, located in Nelli village under the Salavakkam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Deepam Nagar Part-2 has changed

Over the years, the guideline value for Deepam Nagar Part-2 has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, marking a 49% increase from 2017. The most recent revision in 2024 has raised the value to Rs 103 per sq.ft, reflecting a 3% increase from the previous year.

It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, and 2007. The overall change in guideline value from 2012 to 2024 is a modest increase of 3%.

Guideline values in Nelli

In Nelli, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, placing Deepam Nagar Part-2 at the same level as the median.

• Deepam Nagar: Rs 101 per sq.ft (2024)
• Annai Kasthuriba Gandhu Nagar: Rs 103 per sq.ft (2024)
• Jayam Nagar K.B.K.city: Rs 103 per sq.ft (2024)
• Jupiter Mega City: Rs 103 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 103 per sq.ft (2024)
• Malligai Nagar: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Deepam Nagar Part-2

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, making the total cost for these fees Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Deepam Nagar Part-2?

The Sub Registrar Office that covers Deepam Nagar Part-2 is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Nelli. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Deepam Nagar Part-2?

The current guideline value of Deepam Nagar Part-2 is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Deepam Nagar Part-2?

Deepam Nagar Part-2 is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Deepam Nagar Part-2?

The Sub Registrar Office for Deepam Nagar Part-2 is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft results in total fees of Rs 9,270.