Guideline Value for DEVI PRASATH NAGAR (N)

Devi Prasath Nagar (N) guideline value

The current guideline value of Devi Prasath Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Devi Prasath Nagar (N) has changed

The guideline value for Devi Prasath Nagar (N) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. In 2023, the guideline value rose to Rs 600 per sq.ft, and the most recent revision in 2024 has increased it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Devi Prasath Nagar (N) below that median.

• Diamond Avenue (Per): Rs 660 per sq.ft (2024)
• Cs Nh1 (Ward -5): Rs 1,321 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,321 per sq.ft (2024)
• Chozhan Street (Ward -5): Rs 1,321 per sq.ft (2024)
• D.S.R. செல்வி நகர்: Rs 1,474 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Prasath Nagar (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Devi Prasath Nagar (N)?

The Sub Registrar Office that covers Devi Prasath Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. In such cases, the stamp duty is charged on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devi Prasath Nagar (N)?

The current guideline value of Devi Prasath Nagar (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Devi Prasath Nagar (N)?

Devi Prasath Nagar (N) is classified as Residential Class I Type - III.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, which is higher than the current guideline value of Devi Prasath Nagar (N).

Where is the Sub Registrar Office for Devi Prasath Nagar (N)?

The Sub Registrar Office for Devi Prasath Nagar (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.