Guideline Value for DEVARAJ NAGAR 1ST STREET

Devaraj Nagar 1st Street guideline value

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

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

The guideline value for Devaraj Nagar 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 3,015 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision has further raised the guideline value to Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value of these streets is Rs 2,200 per sq.ft, placing Devaraj Nagar 1st Street's 2024 figure above that median.

• Devaraj Nagar 1st Main Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. 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 details.

Which Sub Registrar Office covers Devaraj Nagar 1st Street?

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

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

The guideline value plays a critical role in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,015 per sq.ft in 2017 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 66% over this period.

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

Devaraj Nagar 1st Street is classified as Residential Special Type - IV.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 4,50,000.