Guideline Value for Desigan Street

Desigan Street guideline value

The current guideline value of Desigan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Desigan Street has changed

The guideline value for Desigan Street has seen several revisions over the years. In 2002, the value was Rs 272 per sq.ft, which increased to Rs 297 per sq.ft in 2003. Following this, the value rose significantly to Rs 550 per sq.ft in 2007, and then it jumped to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision.

In terms of percentage changes, the value increased by 9% from 2002 to 2003, by 85% from 2003 to 2007, and by 627% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and finally a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1518%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Desigan Street.

• DEVARAJ NAGAR - Alagappan Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Anantharama Krishnan Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Durairaj Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR Extension - V.G.Nair Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Indira Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Janakaraj Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Desigan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the 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 more details.

Which Sub Registrar Office covers Desigan Street?

The Sub Registrar Office covering Desigan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Desigan Street?

The current guideline value of Desigan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 272 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1518%.

What is the land classification of Desigan Street?

Desigan Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property in Desigan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fee at Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Desigan Street?

The Virugambakkam Sub Registrar Office covers Desigan Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.