Guideline Value for Deivanagar 2nd Street

Deivanagar 2nd Street guideline value

The current guideline value of Deivanagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Deivanagar 2nd Street has changed

The guideline value for Deivanagar 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, with the value rising to Rs 3,000 per sq.ft in 2023, and then further increasing to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Deivanagar 2nd Street.

• Deivanagar 1st Street: Rs 4,400 per sq.ft (2024)
• Deivanagar 3rd cross Street: Rs 3,300 per sq.ft (2024)
• Deivanagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Deivanagar Main Road: Rs 3,300 per sq.ft (2024)
• Daniel Street: Rs 4,400 per sq.ft (2024)
• CTO Colony 5th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Deivanagar 2nd 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Deivanagar 2nd Street?

The Sub Registrar Office that covers Deivanagar 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees during the property registration process.

When purchasing property, it is crucial to understand that the guideline value may influence the sale price. However, the actual sale price may be higher, in which case the stamp duty will be calculated on the higher amount. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Deivanagar 2nd Street?

The current guideline value of Deivanagar 2nd 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Deivanagar 2nd Street?

Deivanagar 2nd Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in Deivanagar 2nd Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,97,000.

Which Sub Registrar Office covers Deivanagar 2nd Street?

The Tambaram Joint 1 Sub Registrar Office covers Deivanagar 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.