Guideline Value for DEVI NAGAR 3RD STREET

Devi Nagar 3rd Street guideline value

The current guideline value of Devi Nagar 3rd Street is Rs 1,100 per sq.ft. 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 3rd Street has changed

The guideline value for Devi Nagar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision has set it at Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by an increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a 10% increase. The increase from 2023 to 2024 is 10% as well.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry 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 matches the current guideline value of Devi Nagar 3rd Street.

• Devi Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 1 To VIII Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar: 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 3rd 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, making the total Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Devi Nagar 3rd Street?

The Sub Registrar Office that covers Devi Nagar 3rd 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 is an important factor when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When registering a property, the guideline value is used to assess the amount of duty payable, ensuring that all transactions are in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Devi Nagar 3rd Street?

The current guideline value of Devi Nagar 3rd 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Devi Nagar 3rd Street?

The land classification for Devi Nagar 3rd Street is Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Which office handles registrations for Devi Nagar 3rd Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Devi Nagar 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.