Guideline Value for DEVI NAGAR

Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen several revisions over the years. Starting from Rs 26 per sq.ft in 2002, it increased to Rs 30 per sq.ft in 2003, marking a 15% rise. The value further increased to Rs 50 per sq.ft in 2007, a significant jump of 67%. By 2012, the guideline value reached Rs 300 per sq.ft, reflecting a 500% increase from the previous revision. However, it then decreased to Rs 201 per sq.ft in 2017, a drop of 33% from 2012.

In the subsequent revisions, the guideline value rose to Rs 300 per sq.ft in 2023, showing a 49% increase from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 330 per sq.ft, marking a 10% increase from the previous year. There are no figures recorded for any other years for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, and Devi Nagar's 2024 figure matches this median.

• Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)
• Dr. Kalaigar Karunanidhi Nagar: Rs 330 per sq.ft (2024)
• B. Venkatraman Nagar: Rs 330 per sq.ft (2024)
• Eswaran Nagar: Rs 330 per sq.ft (2024)
• E.V.R. Periyar Nagar: Rs 330 per sq.ft (2024)
• Bharathi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devi Nagar?

The Sub Registrar Office that covers Devi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nanthiambakkam. It serves as a reference point for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

At the time of registration, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 26 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1169% over the years.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 29,700, calculated based on the guideline value of Rs 3,30,000.

Which Sub Registrar Office covers Devi Nagar?

The Thiruvottiyur Sub Registrar Office covers Devi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Devi Nagar?

Devi Nagar falls under the land classification of Residential Special Type - II.