Guideline Value for DIWAN BAHADUR SHANMUGAM ROAD 1ST STREET

Diwan Bahadur Shanmugam Road 1st Street guideline value

The current guideline value of Diwan Bahadur Shanmugam Road 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Special Type - IV.

How the guideline value of Diwan Bahadur Shanmugam Road 1st Street has changed

The guideline value for Diwan Bahadur Shanmugam Road 1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 3,170 per sq.ft, which then increased significantly to Rs 9,000 per sq.ft in 2012, marking a rise of 184%. However, the value dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 9,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 9,900 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 212%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Diwan Bahadur Shanmugam Road 1st Street above this median.

• Diwan Bahadur Shanmugam Road: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road: Rs 9,800 per sq.ft (2024)
• Diwan Rama Iyengar Road Lane: Rs 9,900 per sq.ft (2024)
• Dolly Street: Rs 6,000 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Diwan Bahadur Shanmugam Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for these fees to Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Diwan Bahadur Shanmugam Road 1st Street?

The Sub Registrar Office that covers Diwan Bahadur Shanmugam Road 1st 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 Purasaivakkam

The guideline value is a crucial factor in the property registration process in Purasaivakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government regulations.

During the registration process, buyers must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that all property transactions are transparent and adhere to the legal framework established by the Registration Department.

Frequently asked questions

What is the current guideline value of Diwan Bahadur Shanmugam Road 1st Street?

The current guideline value of Diwan Bahadur Shanmugam Road 1st Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,170 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 212% over the years.

What are the stamp duty and registration fees for property on this street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 8,91,000, based on the guideline value of Rs 99,00,000.

Which Sub Registrar Office handles registrations for this street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Diwan Bahadur Shanmugam Road 1st Street.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as a basis for calculating stamp duty and registration fees. It ensures that properties are registered at a fair value, either based on the guideline value or the actual sale price, whichever is higher.