Guideline Value for DEVARAJ NAGAR - V.O.C. Street

DEVARAJ NAGAR - V.O.C. Street guideline value

The current guideline value of DEVARAJ NAGAR - V.O.C. Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of DEVARAJ NAGAR - V.O.C. Street has changed

Over the years, the guideline value of DEVARAJ NAGAR - V.O.C. Street has seen several revisions. The 2007 revision set the value at Rs 3,350 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, the value decreased by 33% to Rs 3,015 per sq.ft in the 2017 revision. Subsequently, there was a significant increase of 49%, bringing it to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 saw a further increase of 10%, resulting in the current value of Rs 4,950 per sq.ft.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 48%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 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 - V.O.C. Street's 2024 value above that median.

• DEVARAJ NAGAR - V.G.Nair Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - V.O.C.Street Extension: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Veeramamunivar Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Thanikachalam Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Sri Ramar Street: Rs 4,950 per sq.ft (2024)
• DEVARAJ NAGAR - Shanmugasundara Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in DEVARAJ NAGAR - V.O.C. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers DEVARAJ NAGAR - V.O.C. Street?

The DEVARAJ NAGAR - V.O.C. Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit this link.

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

The guideline value is an essential factor when registering a property in Saligramam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the property's value as determined by the government.

When buying or selling property, the guideline value helps both parties understand the minimum price at which the property can be registered. It is crucial for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of DEVARAJ NAGAR - V.O.C. Street?

The current guideline value of DEVARAJ NAGAR - V.O.C. 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 3,350 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 48% over this period.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers DEVARAJ NAGAR - V.O.C. Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Saligramam?

The median guideline value in Saligramam is Rs 4,400 per sq.ft, with DEVARAJ NAGAR - V.O.C. Street's value above this median at Rs 4,950 per sq.ft.