Guideline Value for DEVANGA NAGAR

Devanga Nagar guideline value

The current guideline value of Devanga Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Somayampalayam village, under the Vadavalli SRO, and is classified as Residential Class I Type - II.

How the guideline value of Devanga Nagar has changed

The guideline value for Devanga Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 500 per sq.ft, and the most recent revision in 2024 increased it further to Rs 550 per sq.ft, marking a 10% rise from the previous year. It is important to note that there are no figures for this street in the revisions for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value saw a decrease of 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Somayampalayam

In Somayampalayam, there are 139 streets under the Vadavalli SRO that have a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 720 per sq.ft. The guideline value for Devanga Nagar is below this median.

• C.T.C.Nagar Extention: Rs 550 per sq.ft (2024)
• Cosmo Village Extention: Rs 990 per sq.ft (2024)
• Cosmo Village Avenue: Rs 720 per sq.ft (2024)
• Cosmo Nagar: Rs 550 per sq.ft (2024)
• Cosmo Garden: Rs 775 per sq.ft (2024)
• Co-Operative Bank Colony: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Devanga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, which totals Rs 38,500, and the registration fee is at 2%, amounting to Rs 11,000. Together, the total fees would be Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devanga Nagar?

Devanga Nagar falls under the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Somayampalayam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price based on the prevailing rates in the area.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Devanga Nagar?

The current guideline value of Devanga Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of Devanga Nagar?

Devanga Nagar is classified as Residential Class I Type - II.

Where can I find the registration office for Devanga Nagar?

The registration office for Devanga Nagar is the Vadavalli Sub Registrar Office, located at Ctc Depot Backside, Maruthamalai Adivaaram, Coimbatore - 641046.

How is stamp duty calculated for properties in Devanga Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500.