Guideline Value for DIWAN BAHADUR SHANMUGAM ROAD

Diwan Bahadur Shanmugam Road guideline value

The current guideline value of Diwan Bahadur Shanmugam Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This road 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 has changed

Over the years, the guideline value of Diwan Bahadur Shanmugam Road has seen significant changes. In 2007, the value was Rs 3,170 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012. However, it decreased to Rs 6,030 per sq.ft in 2017. The value then rose sharply to Rs 9,000 per sq.ft in 2023, and currently stands at Rs 9,900 per sq.ft from the 2024 revision. The changes from 2017 to 2023 saw an increase of 49%, while the jump from 2023 to 2024 is 10%.

The guideline value for this street was not recorded in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the value has increased by 212%, reflecting the changes in the property landscape in this area.

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 is Rs 5,500 per sq.ft, placing Diwan Bahadur Shanmugam Road's current value above this median.

• Diwan Bahadur Shanmugam Road 1st Street: 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

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 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 use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Diwan Bahadur Shanmugam Road?

The Sub Registrar Office that covers Diwan Bahadur Shanmugam Road 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 plays a crucial role in property transactions in Purasaivakkam. It is used as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 3,170 per sq.ft to Rs 9,900 per sq.ft in 2024. The most notable changes occurred between 2007 to 2012 and 2017 to 2023.

What are the other streets with similar guideline values in Purasaivakkam?

Other streets in Purasaivakkam, such as Diwan Bahadur Shanmugam Road 1st Street and 2nd Street, also have a guideline value of Rs 9,900 per sq.ft in 2024, indicating a consistent value in this area.

Where can I find the Sub Registrar Office for Diwan Bahadur Shanmugam Road?

The Sub Registrar Office for Diwan Bahadur Shanmugam Road is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles all registrations for properties in the area.

How is the stamp duty calculated for properties on Diwan Bahadur Shanmugam Road?

Stamp duty for properties on Diwan Bahadur Shanmugam Road is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.