Guideline Value for DEVI NAGAR

Devi Nagar guideline value

The current guideline value of Devi Nagar is Rs 360 per sq.ft, effective from 1 July 2024. This area is located in Moorai-1 village under the Avadi SRO and falls under Residential Class III Type - I land classification.

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 268 per sq.ft. This increased to Rs 335 per sq.ft in 2023, marking a 25% rise. The most recent revision in 2024 set the value at Rs 360 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 34%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Moorai-1

Moorai-1 village has a range of guideline values across its 13 streets under the Avadi SRO, with figures varying from Rs 220 to Rs 550 per sq.ft. The median value for these streets is Rs 550 per sq.ft, positioning Devi Nagar's 2024 figure below this median.

• Dhanalakshmi Nagar: Rs 550 per sq.ft (2024)
• Ganga Avenue I: Rs 220 per sq.ft (2024)
• Iyyappa Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Garden: Rs 550 per sq.ft (2024)
• Sathya Nagar: Rs 360 per sq.ft (2024)
• Shanmugam Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 360 per sq.ft, the total guideline value would be Rs 3,60,000. The stamp duty at 7% would amount to Rs 25,200, and the registration fee at 2% would be Rs 7,200, bringing the total fees to Rs 32,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Nagar?

The Sub Registrar Office that covers Devi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Moorai-1

The guideline value is a crucial factor in property transactions in Moorai-1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps in assessing the fair value of properties in the area, providing a reference point for both buyers and sellers during negotiations. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 360 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 268 per sq.ft to Rs 360 per sq.ft in 2024, marking a total increase of 34% over this period.

What are the other streets in Moorai-1 and their guideline values?

Other streets in Moorai-1 include Dhanalakshmi Nagar at Rs 550 per sq.ft, Ganga Avenue I at Rs 220 per sq.ft, Iyyappa Nagar at Rs 550 per sq.ft, Lakshmi Garden at Rs 550 per sq.ft, Sathya Nagar at Rs 360 per sq.ft, and Shanmugam Nagar at Rs 550 per sq.ft.

How are stamp duty and registration fees calculated in Devi Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Which office should I contact for property registration in Devi Nagar?

The Avadi Sub Registrar Office is responsible for property registration in Devi Nagar. It is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.