Guideline Value for DEEPAM NAGAR

Deepam Nagar guideline value

The current guideline value of Deepam Nagar, located in Nelli village under the Salavakkam SRO, is Rs 101 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Deepam Nagar has changed

The guideline value for Deepam Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 60 per sq.ft, which increased to Rs 40 per sq.ft in 2017. Following this, the value jumped significantly to Rs 100 per sq.ft in 2023, marking a 150% increase from the 2017 figure. The most recent revision in 2024 raised the value to Rs 101 per sq.ft, reflecting a 1% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 68%.

Guideline values in Nelli

In Nelli village, 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, making Deepam Nagar's current value below that median.

• Deepam Nagar Part-2: Rs 103 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

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, while the registration fee at 2% would be Rs 2,020. Therefore, the total cost for stamp duty and registration fees would be Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Deepam Nagar?

The Sub Registrar Office that covers Deepam Nagar 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Nelli. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Deepam Nagar?

The current guideline value of Deepam Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 60 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, marking an overall increase of 68% during this period.

What is the stamp duty rate for properties in Deepam Nagar?

The stamp duty rate for properties in Deepam Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Deepam Nagar?

The Salavakkam Sub Registrar Office handles registrations for Deepam Nagar, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

Are there other streets in Nelli with different guideline values?

Yes, there are several other streets in Nelli under the Salavakkam SRO, with guideline values ranging from Rs 101 to Rs 103 per sq.ft as of 2024.