Guideline Value for Desingh Street

Desingh Street guideline value

The current guideline value of Desingh Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Desingh Street has changed

The guideline value for Desingh Street has undergone several revisions over the years. Starting from Rs 501 per sq.ft in 2003, it increased significantly to Rs 800 per sq.ft in 2007. The value saw a remarkable rise of 713% to reach Rs 6,500 per sq.ft in 2012, but then it decreased by 33% to Rs 4,355 per sq.ft in 2017. Following that, the value increased by 49% to Rs 6,500 per sq.ft in 2023, and finally, it rose by 9% to the current Rs 7,100 per sq.ft in 2024. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 1317%. Each revision reflects changes in the market and local real estate conditions, impacting the value assigned to Desingh Street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current figure for Desingh Street.

• Dams Road: Rs 11,000 per sq.ft (2024)
• Damodara Murthy lane / road: Rs 11,000 per sq.ft (2024)
• Damodara MudaliStreet: Rs 11,000 per sq.ft (2024)
• Corporation Model Line: Rs 3,400 per sq.ft (2024)
• Coovam River road: Rs 4,900 per sq.ft (2024)
• Coovam riverLane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Desingh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty, charged at 7%, amounts to Rs 4,97,000, while the registration fee at 2% is Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Desingh Street?

The Sub Registrar Office that covers Desingh Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum price at which properties can be sold and registered, ensuring that the government receives appropriate revenue from stamp duties and fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the costs associated with registration. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid complications during the registration process.

Frequently asked questions

What is the current guideline value of Desingh Street?

The current guideline value of Desingh Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 501 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1317% over the years.

What is the land classification of Desingh Street?

Desingh Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty rates applicable for properties in Desingh Street?

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

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

The Sub Registrar Office covering Desingh Street is located at 1103, Poonamallee High Road, Chennai-600 003. You can find more information about your SRO online.