Guideline Value

Corporate

Guideline Value for DEVARAJ NAGAR

₹2200/sq.ft.

The guideline value for Devaraj Nagar in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹166 /sq.ft.
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

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Devaraj Nagar guideline value

The current guideline value of Devaraj Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Devaraj Nagar has changed

The guideline value for Devaraj Nagar has undergone several revisions over the years. In 2003, the value was Rs 166 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. The value then rose to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. Following this, the value saw a substantial increase to Rs 2,000 per sq.ft in 2023, and further to Rs 2,200 per sq.ft in 2024.

Notably, the changes between the revisions include a 382% increase from 2003 to 2007, a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Devaraj Nagar is below this median.

Stamp duty and registration fee for property in Devaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Devaraj Nagar?

Devaraj Nagar falls under 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 specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Okkiyamthuraipakkam. It serves as a basis for calculating stamp duty and registration fees, which are mandatory for any property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value in the official records, thus preventing undervaluation or tax evasion during the registration process.

Frequently asked questions

What is the current guideline value of Devaraj Nagar?

The current guideline value of Devaraj Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 166 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, showing significant increases and a few decreases in between.

What is the registration office for Devaraj Nagar?

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

How is stamp duty calculated for properties in Devaraj Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.

What are the guideline values of other streets in Okkiyamthuraipakkam?

Other streets in Okkiyamthuraipakkam have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,800 per sq.ft. For instance, Devaraj Avenue Main Road is valued at Rs 2,800 per sq.ft in 2024.