Guideline Value for John Desikan Street

John Desikan Street guideline value

The current guideline value of John Desikan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of John Desikan Street has changed

The guideline value of John Desikan Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 429 per sq.ft. This increased to Rs 487 per sq.ft in 2003, marking a 14% rise. The value then surged significantly to Rs 1,750 per sq.ft in 2007, representing a 259% increase. Following this, the value rose to Rs 3,000 per sq.ft in 2012, a 71% increase.

From 2012 to 2017, however, there was a decrease, with the value dropping to Rs 2,010 per sq.ft, a decline of 33%. The next revision in 2023 saw the value increase to Rs 3,000 per sq.ft, a 49% rise. Finally, the current value as of 2024 is Rs 3,300 per sq.ft, which is a 10% increase from the previous year. There are no figures available for any revisions other than those listed.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing John Desikan Street's 2024 figure below this median.

• Joseph 1st Street: Rs 4,400 per sq.ft (2024)
• Joseph 2nd Street: Rs 4,400 per sq.ft (2024)
• Joseph Street First Street: Rs 4,400 per sq.ft (2024)
• Kadhar Thottam: Rs 3,300 per sq.ft (2024)
• Jayaram Naidu Street (Jayaram Street): Rs 2,800 per sq.ft (2024)
• Jain College: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in John Desikan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that 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 John Desikan Street?

The Sub Registrar Office that covers John Desikan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value of properties, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of John Desikan Street?

The current guideline value of John Desikan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 429 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 669% over the years.

What is the land classification for John Desikan Street?

John Desikan Street is classified as Residential Class I Type - III.

What are the stamp duty rates applicable?

The stamp duty rate for property transactions is typically 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for John Desikan Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.