Guideline Value for DEVARAJ NAGAR - Indira Street

DEVARAJ NAGAR - Indira Street guideline value

The current guideline value for DEVARAJ NAGAR - Indira Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of DEVARAJ NAGAR - Indira Street has changed

The guideline value for DEVARAJ NAGAR - Indira Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,350 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a reduction of 33%. From 2017 to 2023, the value rose sharply by 49% to reach Rs 4,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 4,950 per sq.ft.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Saligramam

In Saligramam, there are a total of 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing DEVARAJ NAGAR - Indira Street's 2024 figure above the median.

• DEVARAJ NAGAR Extension - V.G.Nair Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Janakaraj Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Durairaj Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Kulasekaran Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR Main Road: Rs 5,500 per sq.ft (2024)
• DEVARAJ NAGAR - Anantharama Krishnan Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in DEVARAJ NAGAR - Indira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers DEVARAJ NAGAR - Indira Street?

The Sub Registrar Office that covers DEVARAJ NAGAR - Indira Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Saligramam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. The guideline value is set by the Registration Department and reflects the minimum value at which properties in a particular area can be registered.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for DEVARAJ NAGAR - Indira Street?

The current guideline value for DEVARAJ NAGAR - Indira Street is Rs 4,950 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 1,350 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 267% over this period.

What is the median guideline value in Saligramam?

The median guideline value in Saligramam is Rs 4,400 per sq.ft, making the 2024 figure for DEVARAJ NAGAR - Indira Street above this median.

What are the registration fees for properties in DEVARAJ NAGAR - Indira Street?

The registration fees for properties in DEVARAJ NAGAR - Indira Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for DEVARAJ NAGAR - Indira Street located?

The Sub Registrar Office for DEVARAJ NAGAR - Indira Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.