Guideline Value for Desia Nagar 1st street

Desia Nagar 1st street guideline value

The current guideline value of Desia Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Desia Nagar 1st street has changed

The guideline value for Desia Nagar 1st street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, in 2017, it dropped to Rs 804 per sq.ft, before rising significantly to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which means that the 2024 figure for Desia Nagar 1st street is below this median.

• Desia Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Desia Nagar Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Desia Nagar 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Desia Nagar 1st street?

The Sub Registrar Office that covers Desia Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the transaction reflects the property's worth.

Frequently asked questions

What is the current guideline value of Desia Nagar 1st street?

The current guideline value of Desia Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Desia Nagar 1st street?

The Royapuram Sub Registrar Office handles registrations for Desia Nagar 1st street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Desia Nagar 1st street?

The land classification for Desia Nagar 1st street is Residential Class II Type - I.