Guideline Value for Deepu Nagar

Deepu Nagar guideline value

The current guideline value of Deepu Nagar, located in Varadarajapuram village, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Deepu Nagar has changed

The guideline value for Deepu Nagar has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 800 per sq.ft. In the 2017 revision, it decreased to Rs 536 per sq.ft, marking a decline of 33%. However, the value rose significantly in the 2023 revision to Rs 800 per sq.ft and then increased again to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 to 2024 revision saw a 10% increase from Rs 800 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Varadarajapuram

Within Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Deepu Nagar's 2024 guideline value below the median.

• Devan Nagar: Rs 1,650 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Dhanaselvi Nagar: Rs 1,650 per sq.ft (2024)
• Dharkas Nagar: Rs 990 per sq.ft (2024)
• Doctors Ashwili Garden: Rs 1,330 per sq.ft (2024)
• Dr.Ambethkar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Deepu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deepu Nagar?

The Sub Registrar Office that covers Deepu 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 Varadarajapuram

The guideline value is a crucial factor when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction process.

When a property is sold, the guideline value ensures that the sale price is aligned with the prevailing rates in the area. This helps maintain transparency and fairness in property transactions, as it prevents undervaluation during registration.

Frequently asked questions

What is the current guideline value of Deepu Nagar?

The current guideline value of Deepu Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Deepu Nagar?

Deepu Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Deepu Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations in Deepu Nagar?

The Padappai Sub Registrar Office handles property registrations for Deepu Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.