Guideline Value for DIWAN RAMA IYENGAR ROAD

Diwan Rama Iyengar Road guideline value

The current guideline value of Diwan Rama Iyengar Road is Rs 9,800 per sq.ft, effective from 1 July 2024. This road is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class I Type - III.

How the guideline value of Diwan Rama Iyengar Road has changed

The guideline value for Diwan Rama Iyengar Road has seen several revisions over the years. In 2007, the value was Rs 2,800 per sq.ft, which increased significantly to Rs 9,000 per sq.ft in 2012. However, it dropped to Rs 6,030 per sq.ft in 2017, before rising again to Rs 9,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 9,800 per sq.ft.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 9% increase. Overall, comparing the 2007 figure to the current 2024 value, there has been a substantial increase of 250%. The register has no 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 a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, placing Diwan Rama Iyengar Road above this median.

• Diwan Bahadur Shanmugam Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Diwan Rama Iyengar Road Lane: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road 1st Street: Rs 9,900 per sq.ft (2024)
• Diwan Bahadur Shanmugam Road: 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 Rama Iyengar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value amounts to Rs 98,00,000. The stamp duty at 7% would be Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, bringing the total to Rs 8,82,000. 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 further calculations.

Which Sub Registrar Office covers Diwan Rama Iyengar Road?

The Sub Registrar Office covering Diwan Rama Iyengar Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair price in accordance with local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the property transaction.

Frequently asked questions

What is the current guideline value of Diwan Rama Iyengar Road?

The current guideline value of Diwan Rama Iyengar Road is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 9,800 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, with Diwan Rama Iyengar Road's 2024 value being above this median.

What are the stamp duty and registration fees for properties on this road?

The stamp duty for a property valued at Rs 9,800 per sq.ft would be Rs 6,86,000, and the registration fee would be Rs 1,96,000, totaling Rs 8,82,000 for a 1,000 sq.ft plot.

Where can I find the Sub Registrar Office for Diwan Rama Iyengar Road?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find more details through the provided link.