Guideline Value for DEVADI STREET

Devadi Street guideline value

The current guideline value of Devadi Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Devadi Street has changed

The guideline value for Devadi Street has seen several revisions over the years. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, reflecting a +44% increase. By 2012, the value was Rs 8,000 per sq.ft, which was a substantial increase of +419% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, showing a decline of -33%. The next revision in 2023 saw the value rise to Rs 8,000 per sq.ft, a +49% increase, and finally, the current value as of 2024 is Rs 8,800 per sq.ft, which is a +10% change from 2023.

There are no figures available for the revisions in the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Devadi Street.

• Desikar Sesha Iyer Street: Rs 7,100 per sq.ft (2024)
• Desigachari Road: Rs 13,200 per sq.ft (2024)
• De-Monte Street: Rs 8,800 per sq.ft (2024)
• De-Monte Colony: Rs 8,800 per sq.ft (2024)
• Deiva Sigamani Road: Rs 8,800 per sq.ft (2024)
• Devanathan Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Devadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total Rs 7,92,000. 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 information.

Which Sub Registrar Office covers Devadi Street?

The Sub Registrar Office that covers Devadi Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is crucial during the registration process of property transactions in Mylapore. It serves as a benchmark to determine the minimum value at which properties can be registered, ensuring that the transaction is documented accurately according to government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Devadi Street?

The current guideline value of Devadi Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 959 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of +818% over the years.

What are the stamp duty and registration fees for property in Devadi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 88,00,000. The stamp duty is Rs 6,16,000, and the registration fee is Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Devadi Street?

The Mylapore Sub Registrar Office covers Devadi Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Devadi Street?

Devadi Street is classified as Residential Class III Type - III under the Mylapore SRO.