Guideline Value for Divakar Street

Divakar Street guideline value

The current guideline value of Divakar Street in Saligramam village, under the Virugambakkam SRO, is Rs 4,950 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 Divakar Street has changed

The guideline value for Divakar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 850 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 429%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the value increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 brought it to Rs 4,950 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for Divakar Street. Overall, from 2007 to 2024, the guideline value has increased by 482%, showcasing the changes over this period.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the 2024 guideline value of Divakar Street above this median.

• Dharansingh Colony 2nd Street: Rs 6,600 per sq.ft (2024)
• Dharansingh Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Dhanalakshmi Colony Senthil Andavar Koil Street: Rs 4,950 per sq.ft (2024)
• Dhanalakshmi Colony: Rs 4,950 per sq.ft (2024)
• Devar Street: Rs 3,300 per sq.ft (2024)
• DEVARAJ NAGAR - V.O.C.Street Extension: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Divakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Divakar Street?

The Sub Registrar Office that covers Divakar 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

When buying or selling property in Saligramam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and reflects the minimum value at which property transactions are assessed for taxation purposes.

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

Frequently asked questions

What is the current guideline value of Divakar Street?

The current guideline value of Divakar Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 482% over the years.

What is the land classification for Divakar Street?

Divakar Street is classified under Residential Class I Type - I, indicating its use for residential purposes.

Where can I find the Virugambakkam Sub Registrar Office?

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

How is the stamp duty calculated for property in Divakar Street?

Stamp duty for property in Divakar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,46,500.