Guideline Value for DEVAKI AVENUE PHASE -2

Devaki Avenue Phase -2 guideline value

The current guideline value of Devaki Avenue Phase -2 is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village under the Avadi SRO, classified as Residential Special Type - IV.

How the guideline value of Devaki Avenue Phase -2 has changed

The guideline value for Devaki Avenue Phase -2 has undergone several revisions over the years. The oldest recorded figure is from 2017, which was Rs 871 per sq.ft. This increased to Rs 1,300 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 shows a further increase to Rs 1,400 per sq.ft, reflecting an 8% change from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 61%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Devaki Avenue Phase -2's 2024 figure above that median.

• Devaki Avenue: Rs 1,400 per sq.ft (2024)
• Dasarpuram & Streets: Rs 870 per sq.ft (2024)
• Dasarpuram 3rd Street: Rs 870 per sq.ft (2024)
• Dasarpuram 2nd Street: Rs 870 per sq.ft (2024)
• Dasarpuram 1st Street: Rs 870 per sq.ft (2024)
• Damodaran Nagar & Streets: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Devaki Avenue Phase -2

For a 1,000 sq.ft plot at the current rate of Rs 1,400 per sq.ft, the guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Devaki Avenue Phase -2?

The Sub Registrar Office covering Devaki Avenue Phase -2 is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Thiruninravur-B

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price is compared to the guideline value. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devaki Avenue Phase -2?

The current guideline value of Devaki Avenue Phase -2 is Rs 1,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 61%, from Rs 871 per sq.ft to Rs 1,400 per sq.ft in 2024.

What is the median guideline value in Thiruninravur-B?

The median guideline value in Thiruninravur-B is Rs 770 per sq.ft, with Devaki Avenue Phase -2's 2024 figure being above this median.

What are the registration fees for property in Devaki Avenue Phase -2?

The registration fees for a property in Devaki Avenue Phase -2 include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Devaki Avenue Phase -2?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.