Guideline Value for DEVI NAGAR 1ST STREET

Devi Nagar 1st Street guideline value

The current guideline value of Devi Nagar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devi Nagar 1st Street has changed

The guideline value for Devi Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase again to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, the increase was 49%, bringing the value to Rs 1,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no recorded figures for the years 2002 and 2003 for Devi Nagar 1st Street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the current guideline value for Devi Nagar 1st Street.

• Devi Nagar 1 To VIII Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar: Rs 1,100 per sq.ft (2024)
• Devi Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 5th Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Nagar 1st Street?

The Sub Registrar Office that covers Devi Nagar 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Koladi. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devi Nagar 1st Street?

The current guideline value of Devi Nagar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and one decrease in between.

What is the land classification for Devi Nagar 1st Street?

The land classification for Devi Nagar 1st Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Devi Nagar 1st Street?

The Sub Registrar Office for Devi Nagar 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Koladi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 11,00,000, the stamp duty would be calculated accordingly.