Guideline Value for DEVAR NAGAR

Devar Nagar guideline value

The current guideline value of Devar Nagar, located in Mitnamalle village under the Avadi SRO, is Rs 802 per sq.ft. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devar Nagar has changed

Over the years, the guideline value of Devar Nagar has seen several revisions. The earliest recorded value was Rs 150 per sq.ft in 2007, which increased significantly to Rs 600 per sq.ft in 2012. Following this, the value saw a decrease to Rs 402 per sq.ft in 2017, before rising to Rs 600 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 802 per sq.ft.

Notably, there are no figures available for the years 2002 and 2003 for this street. The changes between the revisions reflect a +300% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +34% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +435%.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft. The median value is Rs 802 per sq.ft, which is equal to the guideline value of Devar Nagar.

• Crpf Nagar Bharath Avenue: Rs 800 per sq.ft (2024)
• Chidambaram St: Rs 804 per sq.ft (2024)
• Durakai Amman Koil St: Rs 802 per sq.ft (2024)
• Chengalaiyamman Koil St: Rs 806 per sq.ft (2024)
• Gandhi 1st Street: Rs 802 per sq.ft (2024)
• Gandhi 2nd Cross: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Devar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, and the registration fee at 2% would be Rs 16,040, bringing the total to Rs 72,180. 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 accurate calculations.

Which Sub Registrar Office covers Devar Nagar?

The Sub Registrar Office that covers Devar Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mitnamalle. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value.

When a property is sold, the buyer and seller must refer to the guideline value to ensure that the transaction is registered correctly. This value helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Devar Nagar?

The current guideline value of Devar Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 802 per sq.ft in 2024, reflecting an overall increase of 435% over the years.

What are the stamp duty and registration fees for property in Devar Nagar?

The stamp duty for a property valued at Rs 8,02,000 is Rs 56,140, while the registration fee is Rs 16,040, totaling Rs 72,180.

Which Sub Registrar Office is responsible for Devar Nagar?

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

What is the land classification of Devar Nagar?

The land classification of Devar Nagar is Residential Class II Type - I.