Guideline Value for DEVENDRAN NAGAR

Devendran Nagar guideline value

The current guideline value of Devendran Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Residential Class II Type - III.

How the guideline value of Devendran Nagar has changed

The guideline value for Devendran Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, when the guideline value was Rs 2,345 per sq.ft. This figure increased significantly to Rs 3,505 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 3,800 per sq.ft, which is an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value in this village is Rs 2,700 per sq.ft, placing Devendran Nagar's 2024 figure above that median.

• Dhuraisamy Nagar: Rs 2,700 per sq.ft (2024)
• Dimond Colony: Rs 2,700 per sq.ft (2024)
• Casagrand Zenith Phase-I: Rs 3,200 per sq.ft (2024)
• Bogar Avenue: Rs 2,730 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 per sq.ft (2024)
• Gandhi Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Devendran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devendran Nagar?

Devendran Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devendran Nagar?

The current guideline value of Devendran Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 62% over this period.

What is the median guideline value in Vengaivasal?

The median guideline value in Vengaivasal is Rs 2,700 per sq.ft, with Devendran Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Devendran Nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Devendran Nagar?

The Selaiyur Sub Registrar Office handles registrations for Devendran Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.