Guideline Value for Desia Nagar 2nd street

Desia Nagar 2nd street guideline value

The current guideline value of Desia Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Desia Nagar 2nd street has changed

Over the years, the guideline value of Desia Nagar 2nd street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, this value decreased to Rs 804 per sq.ft in 2017. The subsequent revisions saw a significant increase, with the 2023 revision at Rs 1,200 per sq.ft, followed by the latest 2024 revision at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. The overall increase from the 2007 revision to the 2024 revision is 117%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Desia Nagar 2nd street is below this median.

• Desia Nagar 1st 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 2nd street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Desia Nagar 2nd street?

The Sub Registrar Office that covers Desia Nagar 2nd 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 during property registration in Tondaiarpet. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for the transaction.

When a property is registered, the guideline value is considered to ensure that the government receives appropriate revenue from property transactions. It is essential for all parties involved to understand how the guideline value affects the overall cost of buying or selling property in Tondaiarpet.

Frequently asked questions

What is the current guideline value of Desia Nagar 2nd street?

The current guideline value of Desia Nagar 2nd 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, reflecting an overall increase of 117% over the years.

What is the land classification for Desia Nagar 2nd street?

Desia Nagar 2nd street is classified as Residential Class II Type - I.

Where can I find the registration office for Desia Nagar 2nd street?

The registration office for Desia Nagar 2nd street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for property in Desia Nagar 2nd street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.