Guideline Value for DESIKAR SESHA IYER STREET

Desikar Sesha Iyer Street guideline value

The current guideline value of Desikar Sesha Iyer Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Desikar Sesha Iyer Street has changed

The guideline value for Desikar Sesha Iyer Street has undergone several revisions over the years. In 2002, the guideline value was Rs 884 per sq.ft, which increased to Rs 982 per sq.ft in 2003, marking an increase of 11%. The value saw a significant jump to Rs 1,540 per sq.ft in 2007, reflecting a 57% increase. The following revision in 2012 maintained the value at Rs 6,500 per sq.ft, with no change noted until 2023.

In 2023, the guideline value remained at Rs 6,500 per sq.ft, and then in 2024, it rose to Rs 7,100 per sq.ft, indicating a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 703%. It is important to note that there is no figure for this street in the 2017 revision.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Desikar Sesha Iyer Street's 2024 figure below this median.

• Desigachari Road: Rs 13,200 per sq.ft (2024)
• Devadi Street: Rs 8,800 per sq.ft (2024)
• De-Monte Street: Rs 8,800 per sq.ft (2024)
• De-Monte Colony: Rs 8,800 per sq.ft (2024)
• Deiva Sigamani Road: Rs 8,800 per sq.ft (2024)
• Devanathan Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Desikar Sesha Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. 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 further calculations.

Which Sub Registrar Office covers Desikar Sesha Iyer Street?

The Sub Registrar Office that covers Desikar Sesha Iyer Street 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 is a crucial factor in property transactions in Mylapore, 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, ensuring that these are based on a standardized valuation.

Additionally, the guideline value serves as a benchmark for property transactions in the area, providing transparency and consistency in the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Desikar Sesha Iyer Street?

The current guideline value of Desikar Sesha Iyer Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 884 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 703% over the years.

What is the stamp duty for property in Desikar Sesha Iyer Street?

The stamp duty for property in Desikar Sesha Iyer Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is above the current value of Desikar Sesha Iyer Street.