Guideline Value for DEEWAN BASHYAM GARDEN STREET

Deewan Bashyam Garden Street guideline value

The current guideline value of Deewan Bashyam Garden Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Deewan Bashyam Garden Street has changed

The guideline value for Deewan Bashyam Garden Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 393 per sq.ft. This increased to Rs 493 per sq.ft in 2003, marking a 25% rise. The value then surged significantly to Rs 1,682 per sq.ft in 2007, which was a 241% increase. Following this, the 2012 revision recorded a value of Rs 4,000 per sq.ft, reflecting a 138% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 2,680 per sq.ft, a drop of 33% from 2012. The value then rose to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1020%. There are no figures available for revisions in years other than those listed.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Deewan Bashyam Garden Street.

• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)
• Customs Colony: Rs 4,950 per sq.ft (2024)
• Devu Naidu Street: Rs 3,300 per sq.ft (2024)
• Dhanasekaran Street (Raja Naicken G): Rs 4,400 per sq.ft (2024)
• Chinnammal Street: Rs 3,300 per sq.ft (2024)
• Chetty Thottam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Deewan Bashyam Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Deewan Bashyam Garden Street?

The Sub Registrar Office that covers Deewan Bashyam Garden Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Saidapet, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Ensuring that the property is registered at or above the guideline value helps in maintaining legal compliance and protects the interests of both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Deewan Bashyam Garden Street?

The current guideline value of Deewan Bashyam Garden Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 393 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1020% over the years.

What is the stamp duty rate for properties in Deewan Bashyam Garden Street?

The stamp duty rate for properties in Deewan Bashyam Garden Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Deewan Bashyam Garden Street?

The Sub Registrar Office for Deewan Bashyam Garden Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What other streets in Saidapet have similar guideline values?

Other streets in Saidapet with similar guideline values include Deewan Bashyam Iyengar Street and Dhanasekaran Street (Raja Naicken G), both at Rs 4,400 per sq.ft in 2024.