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 Sattamangalam 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. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and currently stands at Rs 660 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Devi Prasath Nagar (N) below this median value.

• Diamond Avenue (Per): Rs 660 per sq.ft (2024)
• Diya Nagar: Rs 660 per sq.ft (2024)
• Cs Nh1 (Ward -5): Rs 1,320 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 1,320 per sq.ft (2024)
• Chozhan Street (Ward -5): Rs 1,320 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, charged at 7%, amounts to Rs 46,200, while the registration fee at 2% totals Rs 13,200. Together, the total cost for these charges would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also 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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value helps ensure that transactions are conducted transparently and fairly. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which is essential for accurate budgeting during a property transaction.

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 increased to Rs 600 per sq.ft in 2023, and is now Rs 660 per sq.ft in 2024.

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

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

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

The stamp duty is charged at 7% and the registration fee at 2%. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 6,60,000, resulting in a stamp duty of Rs 46,200 and a registration fee of Rs 13,200.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.