Guideline Value for DEEWAN BASHYAM IYENGAR STREET

Deewan Bashyam Iyengar Street guideline value

The current guideline value of Deewan Bashyam Iyengar 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, with a land classification of Residential Class II Type - II.

How the guideline value of Deewan Bashyam Iyengar Street has changed

The guideline value for Deewan Bashyam Iyengar Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 393 per sq.ft. This value increased to Rs 493 per sq.ft in 2003, marking a 25% rise. By 2007, the guideline value surged to Rs 1,100 per sq.ft, reflecting a significant increase of 123%. In 2012, it was revised again to Rs 4,000 per sq.ft, which was a 264% increase from the previous figure. However, this value decreased by 33% to Rs 2,680 per sq.ft in 2017. The next revision in 2023 saw a substantial increase to Rs 4,000 per sq.ft, followed by the current value of Rs 4,400 per sq.ft in 2024, 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 in the register for revisions in years other than those listed above.

Guideline values in Saidapet

Saidapet village features a total of 106 streets under the Chennai South Joint II SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current guideline value for Deewan Bashyam Iyengar Street.

• Deewan Bashyam Garden 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 Iyengar Street

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

Which Sub Registrar Office covers Deewan Bashyam Iyengar Street?

The Sub Registrar Office that covers Deewan Bashyam Iyengar 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 critical factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

Additionally, the guideline value helps determine the minimum price at which a property can be registered. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction and avoid any legal issues related to property registration.

Frequently asked questions

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

The current guideline value of Deewan Bashyam Iyengar 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 significantly from Rs 393 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1020% over this period.

What are the stamp duty and registration fees for property in Deewan Bashyam Iyengar Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,96,000, based on the current guideline value of Rs 4,400 per sq.ft.

Which Sub Registrar Office covers Deewan Bashyam Iyengar Street?

The Chennai South Joint II Sub Registrar Office covers Deewan Bashyam Iyengar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the land classification for Deewan Bashyam Iyengar Street?

The land classification for Deewan Bashyam Iyengar Street is Residential Class II Type - II, indicating its suitability for residential purposes.