Guideline Value

Corporate

Guideline Value for DEVARAJ NAGAR 1ST MAIN STREET

₹5000/sq.ft.

The guideline value for Devaraj Nagar 1st Main Street in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 5000 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Special Type - Iv. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Special Type - IV
History
Period Guideline Value
From 1-7-2024 ₹5000 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Devaraj Nagar 1st Main Street

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Devaraj Nagar 1st Main Street guideline value

The current guideline value of Devaraj Nagar 1st Main Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Devaraj Nagar 1st Main Street has changed

The guideline value for Devaraj Nagar 1st Main Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 4,500 per sq.ft, which increased to Rs 5,000 per sq.ft in the 2024 revision, marking an increase of 11%.

Prior to the 2023 revision, the most recent recorded guideline value was Rs 4,500 per sq.ft. The changes in the guideline value reflect the adjustments made by the Registration Department, ensuring that the values align with the current market conditions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the 2024 figure for Devaraj Nagar 1st Main Street above that median.

Stamp duty and registration fee for property in Devaraj Nagar 1st Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaraj Nagar 1st Main Street?

The Sub Registrar Office that covers Devaraj Nagar 1st Main Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the officially recognized value of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. The guideline value serves as a benchmark for property transactions, helping to maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Devaraj Nagar 1st Main Street?

The current guideline value of Devaraj Nagar 1st Main Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 11% from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024.

What is the land classification for Devaraj Nagar 1st Main Street?

The land classification for Devaraj Nagar 1st Main Street is Residential Special Type - IV.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Devaraj Nagar 1st Main Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is charged at 7% on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,50,000.