Guideline Value for DEVU NAIDU STREET

Devu Naidu Street guideline value

The current guideline value of Devu Naidu Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Devu Naidu Street has changed

The guideline value for Devu Naidu Street has seen several revisions over the years. In 2002, the value was Rs 589 per sq.ft, which increased to Rs 775 per sq.ft in 2003, marking a change of +32%. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, an increase of +42%. By 2012, the guideline value was Rs 3,000 per sq.ft, showing a significant increase of +173% from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of -33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and most recently, it has risen to Rs 3,300 per sq.ft in 2024, reflecting a change of +10%.

The overall change from 2002 to 2024 is +460%. Notably, there are no figures available for the revisions in the years not listed above.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Devu Naidu Street's 2024 figure below that median.

• Dhanasekaran Street (Raja Naicken G): Rs 4,400 per sq.ft (2024)
• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)
• Deewan Bashyam Garden Street: Rs 4,400 per sq.ft (2024)
• Customs Colony: Rs 4,950 per sq.ft (2024)
• Duraisamy Garden Street: Rs 3,300 per sq.ft (2024)
• Duraisamy Naicken Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devu Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Devu Naidu Street?

Devu Naidu Street is covered by the Chennai South Joint II 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 Saidapet

The guideline value plays a crucial role in the registration process of property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the property transaction. This value is regularly updated, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Devu Naidu Street?

The current guideline value of Devu Naidu Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 589 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +460% over the years.

What is the stamp duty for properties on Devu Naidu Street?

The stamp duty for properties on Devu Naidu Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Devu Naidu Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Devu Naidu Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Saidapet?

The median guideline value for streets in Saidapet is Rs 4,400 per sq.ft, with Devu Naidu Street's 2024 figure being below this median at Rs 3,300 per sq.ft.