Guideline Value for DEVENDRA NAGAR

Devendra Nagar guideline value

The current guideline value of Devendra Nagar, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Devendra Nagar has changed

The guideline value for Devendra Nagar has seen several revisions over the years. In 2002, the value was Rs 333 per sq.ft, which increased to Rs 369 per sq.ft in 2003. The value then rose significantly to Rs 1,300 per sq.ft in 2007, marking a 252% increase. By 2012, the value was Rs 6,500 per sq.ft, but this represented a decrease of 33% from the previous revision. In 2017, the value was again Rs 4,355 per sq.ft, followed by a substantial increase to Rs 6,500 per sq.ft in 2023, and finally reaching Rs 7,150 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2047%. The register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for this area is Rs 9,900 per sq.ft, placing Devendra Nagar's 2024 figure below that median.

• Dhanalakshmi Avenue: Rs 7,150 per sq.ft (2024)
• Dharmambal Street: Rs 7,150 per sq.ft (2024)
• District Boag Road: Rs 11,000 per sq.ft (2024)
• Co-Operative Housing Society (Court Official): Rs 7,150 per sq.ft (2024)
• Coastal Road: Rs 12,660 per sq.ft (2024)
• Cholapuram Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Devendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Devendra Nagar?

The Sub Registrar Office that covers Devendra Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which is an important consideration during the transaction.

Frequently asked questions

What is the current guideline value of Devendra Nagar?

The current guideline value of Devendra Nagar is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 333 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, marking an overall increase of 2047%.

What are the other streets in Thiruvanmiyur with similar guideline values?

Other streets in Thiruvanmiyur with a guideline value of Rs 7,150 per sq.ft include Dhanalakshmi Avenue, Dharmambal Street, Co-Operative Housing Society (Court Official), and Cholapuram Street.

What is the registration fee for property in Devendra Nagar?

The registration fee for property in Devendra Nagar is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 1,43,000.

Where can I find the Sub Registrar Office for Devendra Nagar?

The Sub Registrar Office for Devendra Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO by visiting the relevant link.