Guideline Value

Corporate

Guideline Value for DEVI NAGAR

₹2480/sq.ft.

The guideline value for Devi Nagar in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2480 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2480 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹800 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹324 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹282 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Devi Nagar

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Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Karambakkam village, is Rs 2,480 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class II Type - I land classification. The area is registered with the Chennai South Joint I SRO.

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 282 per sq.ft. This increased to Rs 324 per sq.ft in 2003, marking a 15% rise. The value then rose dramatically to Rs 800 per sq.ft in 2007, a 147% increase. The 2012 revision saw a further increase to Rs 2,250 per sq.ft, reflecting an increase of 181%. However, this value dropped to Rs 1,507 per sq.ft in 2017, a decrease of 33%. The guideline value rebounded to Rs 2,250 per sq.ft in 2023, before reaching the current value of Rs 2,480 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 779%. There are no figures available for the years between these revisions for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, which ranges from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, and Devi Nagar's 2024 figure is above this median.

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,480 per sq.ft, the total guideline value would be Rs 24,80,000. The stamp duty at 7% would be Rs 1,73,600, and the registration fee at 2% would be Rs 49,600, making the total fees Rs 2,23,200. It is important to note that 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?

Devi Nagar falls under 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to determine the applicable fees. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 2,480 per sq.ft, effective from 1 July 2024.

How has the guideline value of Devi Nagar changed over the years?

The guideline value has increased from Rs 282 per sq.ft in 2002 to Rs 2,480 per sq.ft in 2024, marking an overall increase of 779% over this period.

What is the land classification for Devi Nagar?

Devi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential developments.

What are the stamp duty and registration fees for property in Devi Nagar?

For a property valued at Rs 24,80,000, the stamp duty would be Rs 1,73,600 and the registration fee would be Rs 49,600, totaling Rs 2,23,200.

Which Sub Registrar Office covers Devi Nagar?

Devi Nagar is covered by 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.