Guideline Value for DIAMOND CITY

Diamond City guideline value

The current guideline value of Diamond City, located in Endathure village, is Rs 201 per sq.ft. This value is effective from the 2024 revision under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Diamond City has changed

The guideline value of Diamond City has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 100 per sq.ft, which increased to Rs 67 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant rise to Rs 200 per sq.ft, an increase of 199%. The most recent revision in 2024 has increased the value to Rs 201 per sq.ft, reflecting a 1% rise from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 101%.

Guideline values in Endathure

In Endathure, there are six streets under the Madurandakam SRO that have a 2024 guideline value, ranging from Rs 100 to Rs 202 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Diamond City’s 2024 figure above that median.

• K.K.Nagar: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 100 per sq.ft (2024)
• Mullai Nagar: Rs 100 per sq.ft (2024)
• Sakthi Nagar: Rs 100 per sq.ft (2024)
• Vgp Royal Springs: Rs 202 per sq.ft (2024)

Stamp duty and registration fee for property in Diamond City

For a 1,000 sq.ft plot at the current guideline value of Rs 201 per sq.ft, the total guideline value amounts to Rs 2,01,000. The stamp duty at 7% would be Rs 14,070, and the registration fee at 2% would be Rs 4,020, bringing the total charges to Rs 18,090. It is important to note that the 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 Diamond City?

The Sub Registrar Office that covers Diamond City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Endathure. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, 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.

Frequently asked questions

What is the current guideline value of Diamond City?

The current guideline value of Diamond City is Rs 201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 201 per sq.ft in 2024, reflecting an overall increase of 101% during this period.

What is the land classification for Diamond City?

Diamond City is classified as Residential Special Type - I under the Madurandakam SRO.

What are the stamp duty and registration fees for a property in Diamond City?

For a property valued at Rs 2,01,000, the stamp duty would be Rs 14,070 and the registration fee would be Rs 4,020, totaling Rs 18,090.

Which office handles registrations for properties in Diamond City?

The Madurandakam Sub Registrar Office handles registrations for properties in Diamond City, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.