Guideline Value for Deivanai 2nd Cross Street

Deivanai 2nd Cross Street guideline value

The current guideline value of Deivanai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Deivanai 2nd Cross Street has changed

According to the guideline value register, there are no figures for Deivanai 2nd Cross Street in the revisions for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 sets the guideline value at Rs 2,200 per sq.ft.

There have been no changes between the revisions listed above. The street's guideline value was established in the 2024 revision, reflecting the current market conditions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, placing Deivanai 2nd Cross Street's 2024 figure below that median.

• Deivanai Nagar: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Deivanai Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Deivanai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deivanai 2nd Cross Street?

The Sub Registrar Office that covers Deivanai 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial reference point when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Deivanai 2nd Cross Street?

The current guideline value of Deivanai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

What are the previous guideline value revisions for this street?

The register has no figures for Deivanai 2nd Cross Street in the revisions for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only current figure is from the 2024 revision.

How does the guideline value compare to other streets in Madipakkam-1?

The guideline value of Deivanai 2nd Cross Street at Rs 2,200 per sq.ft is below the median value of Rs 2,750 per sq.ft for the village. Other streets in Madipakkam-1 also share the same guideline value of Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Deivanai 2nd Cross Street?

The Velacheri Sub Registrar Office covers Deivanai 2nd Cross Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles all registration activities for the area.