Guideline Value for Desia Nagar 3rd street

Desia Nagar 3rd street guideline value

The current guideline value of Desia Nagar 3rd 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 3rd street has changed

In the 2007 revision, the guideline value was set at Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% rise. However, it then decreased to Rs 804 per sq.ft in the 2017 revision, which represented a decline of 33%. The value saw significant growth in the following revisions, reaching Rs 1,200 per sq.ft in 2023, an increase of 49% from 2017, and finally rising to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have 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 for Desia Nagar 3rd street is below this median.

• Desia Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Desia Nagar 1st 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 3rd 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 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 Desia Nagar 3rd street?

The Sub Registrar Office covering Desia Nagar 3rd 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 is an essential reference point used during the registration of property transactions in Tondaiarpet. It helps determine the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Desia Nagar 3rd street?

The current guideline value of Desia Nagar 3rd 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, with various revisions in between showing fluctuations in value.

What are the stamp duty and registration fees for property in Desia Nagar 3rd street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,17,000, based on the current guideline value.

Which office handles registrations for Desia Nagar 3rd street?

The Royapuram Sub Registrar Office handles registrations for Desia Nagar 3rd street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Desia Nagar 3rd street?

Desia Nagar 3rd street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.