Guideline Value for DESIKANANTHA PURAM 2ND STREET

Desikanantha Puram 2nd Street guideline value

The current guideline value of Desikanantha Puram 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Desikanantha Puram 2nd Street has changed

Over the years, the guideline value for Desikanantha Puram 2nd Street has seen significant changes. In 2003, the value was Rs 419 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a 19% rise. By 2012, the value had jumped to Rs 2,000 per sq.ft, a substantial increase of 300%. However, in 2017, it decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft after a 10% increase in 2024.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 425%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, making the 2024 figure for Desikanantha Puram 2nd Street below this median.

• Desikanantha Puram 1st Street: Rs 2,200 per sq.ft (2024)
• Desikanantha Puram Power Line: Rs 2,200 per sq.ft (2024)
• Desi Colony (A) Desiya Colony: Rs 5,400 per sq.ft (2024)
• Decoster (Road) Street: Rs 4,900 per sq.ft (2024)
• Decoster Road 2nd Street: Rs 4,300 per sq.ft (2024)
• Decoster Road 1st Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Desikanantha Puram 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Desikanantha Puram 2nd Street?

The Sub Registrar Office that covers Desikanantha Puram 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When you buy or sell a property, the guideline value is used to ensure that the transaction is recorded accurately, and the appropriate taxes are collected. It helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Desikanantha Puram 2nd Street?

The current guideline value of Desikanantha Puram 2nd Street is Rs 2,200 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 419 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 425% over this period.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Desikanantha Puram 2nd Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 1,98,000 in fees.

Which office handles registrations for Desikanantha Puram 2nd Street?

The Purasaivakkam Sub Registrar Office handles registrations for Desikanantha Puram 2nd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.