Guideline Value for Detroit Layout

Detroit Layout guideline value

The current guideline value of Detroit Layout in Kanthoor village is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Detroit Layout has changed

Over the years, the guideline value of Detroit Layout has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in the 2012 revision. However, this value dropped to Rs 268 per sq.ft in the 2017 revision, before rising again to Rs 400 per sq.ft in both the 2023 and 2024 revisions. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. The value remained unchanged from 2023 to 2024, marking a 0% change. Overall, from the 2007 revision to the 2024 revision, there has been a 100% increase in the guideline value.

Guideline values in Kanthoor

In Kanthoor village, there are 33 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft. The median value of these streets is Rs 181 per sq.ft, placing Detroit Layout's current value above this median.

• Divya Avenue: Rs 400 per sq.ft (2024)
• Central Green: Rs 590 per sq.ft (2024)
• Central Grand: Rs 700 per sq.ft (2024)
• Biramanar Street: Rs 181 per sq.ft (2024)
• Biramanar Cross Street: Rs 150 per sq.ft (2024)
• Big Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Detroit Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 Detroit Layout?

The Sub Registrar Office that covers Detroit Layout is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duty when buying or selling property in Kanthoor. It serves as a benchmark for the value of the property and is used by the registration department to calculate the applicable fees.

When a property is sold, the buyer must pay the stamp duty 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 Detroit Layout?

The current guideline value of Detroit Layout is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then dropped to Rs 268 per sq.ft in 2017, and remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification of Detroit Layout?

Detroit Layout is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office for Detroit Layout located?

The Sub Registrar Office for Detroit Layout is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for property in Detroit Layout?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the stamp duty would be Rs 28,000 at 7% of the guideline value.