Guideline Value for Desigan Street

Desigan Street guideline value

The current guideline value of Desigan Street, located in Thiruneermalai village under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Desigan Street has changed

The guideline value of Desigan Street has undergone several revisions over the years. In 2003, the value was set at Rs 312 per sq.ft. This figure increased to Rs 810 per sq.ft in 2007, marking a significant rise of 160%. The value then rose to Rs 1,474 per sq.ft in 2017, reflecting an 82% increase from the previous revision. The 2023 revision saw the value increase to Rs 2,200 per sq.ft, which was a 49% rise from 2017.

As of the 2024 revision, the guideline value stands at Rs 2,420 per sq.ft, representing a 10% increase from 2023. The overall change from 2003 to 2024 is a remarkable increase of 676%. It is important to note that there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value is Rs 2,420 per sq.ft, which is equal to the current guideline value of Desigan Street.

• C.L.C Road: Rs 2,860 per sq.ft (2024)
• Doctors Colony: Rs 2,420 per sq.ft (2024)
• Dr.Ambedkar Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Nagar: Rs 1,980 per sq.ft (2024)
• Dr.Solman Colony: Rs 2,420 per sq.ft (2024)
• Dr.Soundarammal Street: Rs 2,420 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 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost for stamp duty and registration fee would be Rs 2,17,800. 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 more details.

Which Sub Registrar Office covers Desigan Street?

The Sub Registrar Office that covers Desigan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Desigan Street?

The current guideline value of Desigan Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 312 per sq.ft to Rs 2,420 per sq.ft in 2024, marking a total increase of 676% over the years.

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

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers Desigan Street?

The Pammal Sub Registrar Office covers Desigan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Desigan Street?

Desigan Street falls under the Residential Class I Type - I land classification, which is relevant for property registration and valuation.