Guideline Value for DIWAN BAHADUR SHANMUGAM ROAD 2ND STREET

Diwan Bahadur Shanmugam Road 2nd Street guideline value

The current guideline value for Diwan Bahadur Shanmugam Road 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Diwan Bahadur Shanmugam Road 2nd Street has changed

The guideline value for Diwan Bahadur Shanmugam Road 2nd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 3,170 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a significant rise of 184%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, reflecting a decline of 33%. The subsequent revisions showed a substantial increase, with the value rising to Rs 9,000 per sq.ft in 2023 and further to Rs 9,900 per sq.ft in 2024, a change of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 212%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which indicates that the 2024 figure for Diwan Bahadur Shanmugam Road 2nd Street is above this median.

• Diwan Bahadur Shanmugam Road 1st Street: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road: Rs 9,800 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road: Rs 9,900 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 2nd 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, totaling Rs 8,91,000. Stamp duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Diwan Bahadur Shanmugam Road 2nd Street?

The Sub Registrar Office covering Diwan Bahadur Shanmugam Road 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

When buying or selling property in Purasaivakkam, the guideline value serves as a benchmark for determining the stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value to understand the financial implications of their transactions.

The guideline value is utilized during the registration process to ensure that the correct fees are applied based on the property's assessed worth. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for Diwan Bahadur Shanmugam Road 2nd Street?

The current guideline value for Diwan Bahadur Shanmugam Road 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the stamp duty for property in Diwan Bahadur Shanmugam Road 2nd Street?

The stamp duty for property in Diwan Bahadur Shanmugam Road 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for this area?

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

Where can I find more information about guideline values in Purasaivakkam?

For more information about guideline values in Purasaivakkam, you can refer to the Registration Department's guideline value register, which provides detailed figures for various streets in the area.