Guideline Value for DEEWAN BASHYAM IYENGAR LANE / STREET

Deewan Bashyam Iyengar Lane / Street guideline value

The current guideline value of Deewan Bashyam Iyengar Lane / Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Deewan Bashyam Iyengar Lane / Street has changed

The guideline value for Deewan Bashyam Iyengar Lane / Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,700 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 76%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, which was a 49% increase. Currently, the guideline value stands at Rs 3,300 per sq.ft as of the 2024 revision, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 94%.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Deewan Bashyam Iyengar Lane / Street.

• Dhanapal Chetty Street: Rs 2,750 per sq.ft (2024)
• Jayaram Chetty Street: Rs 5,500 per sq.ft (2024)
• Annadurai Street: Rs 3,300 per sq.ft (2024)
• Jones Road: Rs 8,250 per sq.ft (2024)
• Amma Kannamma Street: Rs 2,750 per sq.ft (2024)
• Kamarajar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Deewan Bashyam Iyengar Lane / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Deewan Bashyam Iyengar Lane / Street?

The Sub Registrar Office that covers Deewan Bashyam Iyengar Lane / Street is the Chennai South Joint I 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Deewan Bashyam Iyengar Lane / Street?

The current guideline value of Deewan Bashyam Iyengar Lane / Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 94% over the years.

What is the stamp duty for property in Deewan Bashyam Iyengar Lane / Street?

The stamp duty for property in Deewan Bashyam Iyengar Lane / Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Deewan Bashyam Iyengar Lane / Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value for streets in Saidapet?

The median guideline value for streets in Saidapet under the Chennai South Joint I SRO is Rs 3,300 per sq.ft, which is the same as the current guideline value for Deewan Bashyam Iyengar Lane / Street.