Guideline Value for DEVIKA NAGAR

Devika Nagar guideline value

The current guideline value of Devika Nagar, located in Perungalathur village under the Padappai SRO, is Rs 1,990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class V Type - I.

How the guideline value of Devika Nagar has changed

The guideline value for Devika Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,990 per sq.ft, which is an increase from Rs 1,809 per sq.ft in the 2023 revision. Notably, the 2017 revision also recorded Rs 1,809 per sq.ft, indicating no change from 2017 to 2023. The overall change from the 2017 revision to the 2024 revision is an increase of 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The guideline value has progressed from Rs 1,809 per sq.ft in 2017 to Rs 1,990 per sq.ft in 2024, reflecting a consistent upward trend over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing the 2024 value of Devika Nagar below this median.

• Devi Karumari Amman Nagar: Rs 2,310 per sq.ft (2024)
• Devarajan Street: Rs 1,650 per sq.ft (2024)
• Desamuthiyamman Koil Street: Rs 1,650 per sq.ft (2024)
• David Nagar: Rs 3,960 per sq.ft (2024)
• Dinakar Street: Rs 2,310 per sq.ft (2024)
• Corner Street Extn: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Devika Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,990 per sq.ft, the total guideline value amounts to Rs 19,90,000. The stamp duty at 7% would be Rs 1,39,300, and the registration fee at 2% would be Rs 39,800, bringing the total to Rs 1,79,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devika Nagar?

The Sub Registrar Office that covers Devika Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Devika Nagar?

The current guideline value of Devika Nagar is Rs 1,990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,809 per sq.ft in 2023 to Rs 1,990 per sq.ft in 2024, marking a 10% increase. It remained the same from 2017 to 2023.

What is the median guideline value in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, which is higher than the current value of Devika Nagar.

What are the stamp duty rates for property in Devika Nagar?

The stamp duty rate for property transactions in Devika Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where is the Sub Registrar Office for Devika Nagar located?

The Sub Registrar Office for Devika Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.