Guideline Value for DEVARAJAN STREET

Devarajan Street guideline value

The current guideline value of Devarajan Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village under the Thiruvottiyur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Devarajan Street has changed

The guideline value for Devarajan Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 157 per sq.ft. This increased to Rs 219 per sq.ft in 2003, marking a 39% rise. The value saw a significant increase to Rs 500 per sq.ft in 2007, which is a 128% change. In 2012, the value was recorded at Rs 1,400 per sq.ft, reflecting a 180% increase from the previous revision. However, it then dropped to Rs 938 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value rose substantially to Rs 1,400 per sq.ft, a 49% increase. The latest revision in 2024 has further increased the value to Rs 1,500 per sq.ft, which is a 7% rise from the previous year. There are no recorded figures for the years not mentioned in this register for Devarajan Street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median of Rs 1,100 per sq.ft. Devarajan Street's 2024 guideline value is above this median.

• Dr.A.P.J. Abdul Kalam Nagar: Rs 1,300 per sq.ft (2024)
• Chinna Kannu Street / Chinna Kannu Naickan Street: Rs 1,001 per sq.ft (2024)
• Chandran Street: Rs 1,300 per sq.ft (2024)
• Chandramman Koil Street: Rs 1,300 per sq.ft (2024)
• Bharathi Dasan Street: Rs 1,001 per sq.ft (2024)
• Balji Palayam: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. 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 Devarajan Street?

The Sub Registrar Office that covers Devarajan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for further assistance.

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

When buying or selling property in Chinnasekkadu, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark for calculating these fees, ensuring that the transaction is recorded at an appropriate value.

It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications during the registration process. This helps in ensuring compliance with the local regulations and avoids any potential issues during property transactions.

Frequently asked questions

What is the current guideline value of Devarajan Street?

The current guideline value of Devarajan Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 157 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 855% over the years.

What is the land classification for Devarajan Street?

Devarajan Street is classified as Residential Special Type - I under the Thiruvottiyur SRO.

What are the stamp duty and registration fees for property in Devarajan Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,35,000.

Where is the Sub Registrar Office for Devarajan Street located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.