Guideline Value for Desia Nagar Main Street

Desia Nagar Main Street guideline value

The current guideline value of Desia Nagar Main 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 Main Street has changed

The guideline value for Desia Nagar Main Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This value increased to Rs 1,200 per sq.ft in 2012, but then decreased to Rs 804 per sq.ft in 2017. From 2017 to 2023, the value saw a significant increase to Rs 1,200 per sq.ft, and the latest revision in 2024 set the value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes in guideline value from 2007 to 2024 show an overall increase of 117%. The revisions for the years 2002 and 2003 have no recorded figures for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, 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 for Desia Nagar Main Street is below this median.

• Desia Nagar 1st street: Rs 1,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Desia Nagar Main 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 be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that 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 more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Desia Nagar Main Street?

The Sub Registrar Office that covers Desia Nagar Main 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 a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Tondaiarpet, the guideline value will be used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Desia Nagar Main Street?

The current guideline value of Desia Nagar Main 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 registration office for Desia Nagar Main Street?

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

How is the stamp duty calculated for properties in Desia Nagar?

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

What are the guideline values of other streets in Tondaiarpet?

Other streets in Tondaiarpet, such as Desia Nagar 1st, 2nd, 3rd, 4th, 5th, and 6th streets, all have a guideline value of Rs 1,300 per sq.ft for 2024.