Guideline Value for Desikar Street (Block 5

Desikar Street (Block 5 guideline value

The current guideline value for Desikar Street (Block 5) is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class II Type - III.

How the guideline value of Desikar Street (Block 5) has changed

The guideline value for Desikar Street has seen significant changes over the years. In the 2007 revision, the guideline value was set at Rs 800 per sq.ft. This figure increased dramatically to Rs 3,685 per sq.ft in 2017, marking a 361% increase. The next revision in 2023 raised the value to Rs 5,500 per sq.ft, which was a 49% increase from the previous figure. As of the 2024 revision, the guideline value is now Rs 6,000 per sq.ft, reflecting a 9% increase from 2023.

It is important to note that there are no recorded figures for Desikar Street in the revisions for the years 2002, 2003, and 2012.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 4,900 per sq.ft, placing Desikar Street's 2024 figure above this median.

• Deivanambi Street (Puranagar): Rs 4,100 per sq.ft (2024)
• Deivanambi Street (Nagaram): Rs 4,100 per sq.ft (2024)
• Devanathan Colony (W.M): Rs 4,900 per sq.ft (2024)
• Devarajan Street (JPT): Rs 4,100 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dhamodharan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Desikar Street (Block 5)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost for these fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Desikar Street (Block 5)?

The Sub Registrar Office that covers Desikar Street (Block 5) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for property transactions, as it ensures that all parties are aware of the financial obligations involved. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of Desikar Street (Block 5)?

The current guideline value of Desikar Street (Block 5) is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased significantly from Rs 800 per sq.ft to Rs 6,000 per sq.ft in 2024, marking an overall increase of 650%.

What is the stamp duty rate for properties in Desikar Street?

The stamp duty rate for properties in Desikar Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Desikar Street?

The Sub Registrar Office for Desikar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. For example, Deivanambi Street (Puranagar) is Rs 4,100 per sq.ft, while Devanathan Colony (W.M) is Rs 4,900 per sq.ft.