Guideline Value for DEVANATHAN STREET

Devanathan Street guideline value

The current guideline value of Devanathan Street is Rs 16,500 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 I Type - I.

How the guideline value of Devanathan Street has changed

Over the years, the guideline value of Devanathan Street has seen significant changes. In the 2002 revision, the value was Rs 1,323 per sq.ft. This increased to Rs 1,484 per sq.ft in the 2003 revision, marking a 12% rise. The 2007 revision saw a further increase to Rs 1,540 per sq.ft, which was a 4% change from the previous year. The value then jumped dramatically to Rs 15,000 per sq.ft in the 2012 revision, reflecting an 874% increase. However, it decreased to Rs 10,050 per sq.ft in the 2017 revision, a decline of 33%. The value climbed again to Rs 15,000 per sq.ft in the 2023 revision, and finally, it reached Rs 16,500 per sq.ft in the 2024 revision, representing a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,147%. There are no revisions with no figure for this street in the register.

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, with a median value of Rs 8,800 per sq.ft. Devanathan Street's 2024 guideline value of Rs 16,500 per sq.ft is significantly above this median.

• Devadi Street: Rs 8,800 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Devanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total to Rs 14,85,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devanathan Street?

The Sub Registrar Office covering Devanathan 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 information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps in establishing the legal framework for the transaction. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devanathan Street?

The current guideline value of Devanathan Street is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,323 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, reflecting an overall increase of 1,147% over the years.

What is the land classification of Devanathan Street?

Devanathan Street is classified as Residential Class I Type - I under the Mylapore SRO.

Where can I find the Sub Registrar Office for Devanathan Street?

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

How do I calculate stamp duty and registration fees for a property in Devanathan Street?

To calculate stamp duty and registration fees, you can use the guideline value. For example, a 1,000 sq.ft plot at Rs 16,500 per sq.ft would have a total guideline value of Rs 1,65,00,000, leading to stamp duty and registration fees totaling Rs 14,85,000. You can use the stamp duty and registration fee calculator for accurate calculations.