Guideline Value for DEIVA SIGAMANI ROAD

Deiva Sigamani Road guideline value

The current guideline value of Deiva Sigamani Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Deiva Sigamani Road has changed

The guideline value for Deiva Sigamani Road has seen significant changes over the years. In the 2002 revision, the value was Rs 1,094 per sq.ft, which increased to Rs 1,215 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 27% rise. The value then experienced a substantial jump to Rs 8,000 per sq.ft in 2012, which was a remarkable increase of 419%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The 2023 revision saw the value rise again to Rs 8,000 per sq.ft, followed by a further increase to Rs 8,800 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 704%. There are no figures available for any other revisions for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Deiva Sigamani Road at this median value.

• De-Monte Colony: Rs 8,800 per sq.ft (2024)
• De-Monte Street: Rs 8,800 per sq.ft (2024)
• Desigachari Road: Rs 13,200 per sq.ft (2024)
• Desikar Sesha Iyer Street: Rs 7,100 per sq.ft (2024)
• Devadi Street: Rs 8,800 per sq.ft (2024)
• Devanathan Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Deiva Sigamani Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total fees Rs 7,92,000. 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 Deiva Sigamani Road?

The Sub Registrar Office that covers Deiva Sigamani Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 Deiva Sigamani Road?

The current guideline value of Deiva Sigamani Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 1,094 per sq.ft to Rs 8,800 per sq.ft in 2024, representing an overall increase of 704%.

What is the land classification for Deiva Sigamani Road?

Deiva Sigamani Road is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for Deiva Sigamani Road?

The Sub Registrar Office for Deiva Sigamani Road is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties on Deiva Sigamani Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000.