Guideline Value for DEVARAJ NAGAR ANNEXE

Devaraj Nagar Annexe guideline value

The current guideline value of Devaraj Nagar Annexe is Rs 5,000 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Special Type - IV.

How the guideline value of Devaraj Nagar Annexe has changed

The guideline value for Devaraj Nagar Annexe 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 significant rise of 49%. The latest revision in 2024 has further increased 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 years 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 a guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, making the current value for Devaraj Nagar Annexe above that median.

• Devaraj Nagar 4th Cross Street Extension: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 4th Cross Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Devaraj Nagar 2nd Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Nagar Annexe

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Devaraj Nagar Annexe?

The Sub Registrar Office that covers Devaraj Nagar Annexe 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 crucial role during property transactions in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devaraj Nagar Annexe?

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

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 3,015 per sq.ft to Rs 5,000 per sq.ft in 2024, which is an overall increase of 66%.

What is the land classification for Devaraj Nagar Annexe?

Devaraj Nagar Annexe is classified as Residential Special Type - IV.

Where can I find the Neelankarai Sub Registrar Office?

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

What are the stamp duty rates for properties in Devaraj Nagar Annexe?

The stamp duty for properties in Devaraj Nagar Annexe is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.