Guideline Value for Desia Nagar 5th street

Desia Nagar 5th street guideline value

The current guideline value for Desia Nagar 5th 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 5th street has changed

The guideline value for Desia Nagar 5th street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017. The 2023 revision saw it rise to Rs 1,200 per sq.ft, and the current revision for 2024 is Rs 1,300 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%. The value then increased by 8% from 2023 to 2024. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Desia Nagar 5th street's 2024 value below the median.

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

Stamp duty and registration fee for property in Desia Nagar 5th street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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 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 5th street?

The Sub Registrar Office that covers Desia Nagar 5th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To locate your SRO, you can visit find your SRO.

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

The guideline value is a critical reference point when registering property transactions in Tondaiarpet. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps to determine the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in the collection of appropriate taxes by the government.

Frequently asked questions

What is the current guideline value for Desia Nagar 5th street?

The current guideline value for Desia Nagar 5th 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 seen various changes: Rs 600 per sq.ft in 2007, Rs 1,200 per sq.ft in 2012, Rs 804 per sq.ft in 2017, Rs 1,200 per sq.ft in 2023, and currently Rs 1,300 per sq.ft in 2024.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is above the current value of Desia Nagar 5th street.

What are the stamp duty and registration fees for property in Desia Nagar 5th street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Desia Nagar 5th street located?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.