Guideline Value for DIVINE NAGAR

Divine Nagar guideline value

The current guideline value of Divine Nagar, located in Elavur village under the Gummidipoondi SRO, is Rs 130 per sq.ft. This value is effective from the 2024 revision, which was implemented on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Divine Nagar has changed

In the 2024 revision, the guideline value for Divine Nagar is set at Rs 130 per sq.ft. The previous revision in 2023 also recorded the guideline value at Rs 130 per sq.ft, indicating no change between these two years. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Since there are no figures available for earlier revisions, it is clear that the guideline value has remained consistent at Rs 130 per sq.ft for the last two revisions. This stability reflects the current land classification and market conditions within the area.

Guideline values in Elavur

Within Elavur village, five streets under the Gummidipoondi SRO have a 2024 guideline value ranging from Rs 130 to Rs 195 per sq.ft, with the median being Rs 130 per sq.ft. Divine Nagar's 2024 figure aligns with this median value.

• Shakila Nagar: Rs 130 per sq.ft (2024)
• Sontham Nagar: Rs 130 per sq.ft (2024)
• Sri Sai Krishna Garden: Rs 195 per sq.ft (2024)
• New Sun City: Rs 130 per sq.ft (2024)

Stamp duty and registration fee for property in Divine Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 130 per sq.ft, the total guideline value amounts to Rs 1,30,000. The stamp duty at 7% would be Rs 9,100, and the registration fee at 2% would be Rs 2,600, bringing the total fees to Rs 11,700. 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 detailed calculations.

Which Sub Registrar Office covers Divine Nagar?

The Gummidipoondi Sub Registrar Office covers Divine Nagar. The office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Elavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps maintain transparency in the transaction process. It ensures that both buyers and sellers are aware of the official rates that govern property transactions in the area.

Frequently asked questions

What is the current guideline value of Divine Nagar?

The current guideline value of Divine Nagar is Rs 130 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 130 per sq.ft for the revisions in 2023 and 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the registration fees for property in Divine Nagar?

For a property valued at Rs 1,30,000, the stamp duty is Rs 9,100 and the registration fee is Rs 2,600, totaling Rs 11,700. These fees are based on the guideline value.

Which office handles property registrations in Divine Nagar?

The Gummidipoondi Sub Registrar Office is responsible for property registrations in Divine Nagar. It is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and median values of surrounding areas. It is updated periodically to reflect current market conditions.