Guideline Value for DEVAKI GARDEN

Devaki Garden guideline value

The current guideline value of Devaki Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Devaki Garden has changed

The guideline value for Devaki Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft. Following this, in 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,700 per sq.ft.

Notably, the changes between these revisions include a 33% decrease from 2012 to 2017, followed by a 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which matches the current guideline value for Devaki Garden.

• Dac Silicon Valley: Rs 4,100 per sq.ft (2024)
• Dhanalakshmi Garden: Rs 1,700 per sq.ft (2024)
• Dinakaran Garden: Rs 1,000 per sq.ft (2024)
• Chozhan Salai: Rs 1,100 per sq.ft (2024)
• Chinna Mathi Garden: Rs 1,100 per sq.ft (2024)
• Chinnadurai Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Devaki Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. 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 detailed calculations.

Which Sub Registrar Office covers Devaki Garden?

The Sub Registrar Office that covers Devaki Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transfers. Buyers and sellers should be aware that the guideline value is used to determine the fees payable, ensuring transparency in the transaction process.

When purchasing property, it is essential to compare the sale price with the guideline value. The stamp duty is charged based on the higher of the two, which ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devaki Garden?

The current guideline value of Devaki Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Devaki Garden?

Devaki Garden is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated in Chemmancheri?

Stamp duty in Chemmancheri is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the state receives the appropriate revenue from property transactions.