Guideline Value for Deivanagar Main Road

Deivanagar Main Road guideline value

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

How the guideline value of Deivanagar Main Road has changed

The guideline value for Deivanagar Main Road has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 600 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 400%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, followed by the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between the revisions reflect fluctuations in the property market, with the most significant increase occurring between 2017 and 2023, which saw a rise of 49%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with a 2024 guideline value range from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, and Deivanagar Main Road's 2024 figure aligns with this median.

• Deivanagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Deivanagar 3rd cross Street: Rs 3,300 per sq.ft (2024)
• Deivanagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Deivanagar 1st Street: Rs 4,400 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deivanagar Main Road?

The Sub Registrar Office that covers Deivanagar Main Road 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 plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Deivanagar Main Road?

The current guideline value of Deivanagar Main Road 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 450% over the years.

Where can I find the Sub Registrar Office for Deivanagar Main Road?

The Sub Registrar Office for Deivanagar Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

How does the guideline value impact property transactions?

The guideline value is used to determine the minimum registration value for property transactions, affecting the stamp duty and registration fees payable by buyers and sellers.