Guideline Value for SREE DESIKAR NAGAR EXTENSION PHASE-2

Sree Desikar Nagar Extension Phase-2 guideline value

The current guideline value of Sree Desikar Nagar Extension Phase-2 is Rs 700 per sq.ft. This area is located in Chettipunniyam village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sree Desikar Nagar Extension Phase-2 has changed

The guideline value for Sree Desikar Nagar Extension Phase-2 has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 700 per sq.ft. In 2017, it decreased to Rs 469 per sq.ft, marking a 33% drop. However, by 2023, the value rebounded to Rs 700 per sq.ft, and it remained unchanged in the 2024 revision, which also reflects Rs 700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to its 2012 level. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 700 per sq.ft.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median guideline value for these streets is Rs 900 per sq.ft, making Sree Desikar Nagar Extension Phase-2's value below that median.

• Sowbagya Housing Co operative Mega Nagar: Rs 900 per sq.ft (2024)
• Sri Ambujammal Nagar: Rs 900 per sq.ft (2024)
• Sri Desikan Nagar: Rs 900 per sq.ft (2024)
• Sri Devanathan Nagar: Rs 900 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 1,200 per sq.ft (2024)
• Sivagami Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Desikar Nagar Extension Phase-2

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty, calculated at 7%, would be Rs 49,000, and the registration fee, at 2%, would be Rs 14,000. Therefore, the total cost for stamp duty and registration would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sree Desikar Nagar Extension Phase-2?

The Sree Desikar Nagar Extension Phase-2 falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chettipunniyam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sree Desikar Nagar Extension Phase-2?

The current guideline value of Sree Desikar Nagar Extension Phase-2 is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, with the most notable changes being a decrease to Rs 469 per sq.ft in 2017, followed by a return to Rs 700 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained unchanged at Rs 700 per sq.ft.

What are the other guideline values in Chettipunniyam?

In Chettipunniyam, the guideline values range from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. Sree Desikar Nagar Extension Phase-2's value is below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. The duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sree Desikar Nagar Extension Phase-2?

The Chengleput Joint II Sub Registrar Office covers Sree Desikar Nagar Extension Phase-2, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO through the provided link.