Guideline Value for Deivanai Nagar Extn-2 1st Street

Deivanai Nagar Extn-2 1st Street guideline value

The current guideline value of Deivanai Nagar Extn-2 1st 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, classified as Residential Class II Type - I.

How the guideline value of Deivanai Nagar Extn-2 1st Street has changed

In the 2017 revision, the guideline value for Deivanai Nagar Extn-2 1st Street was Rs 1,340 per sq.ft. This represents a significant increase of 64% to the current rate of Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value increased from Rs 1,340 to Rs 2,200 per sq.ft. This increase reflects the ongoing adjustments in property values as registered by the authorities.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Deivanai Nagar Extn-2 1st Street's current guideline value below the median.

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

Stamp duty and registration fee for property in Deivanai Nagar Extn-2 1st 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, bringing the total to Rs 1,98,000. 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Deivanai Nagar Extn-2 1st Street?

The Sub Registrar Office that covers Deivanai Nagar Extn-2 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Deivanai Nagar Extn-2 1st Street?

The current guideline value of Deivanai Nagar Extn-2 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, marking a change of 64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is higher than the current guideline value of Deivanai Nagar Extn-2 1st Street.

Where can I find the Sub Registrar Office for Deivanai Nagar Extn-2 1st Street?

The Sub Registrar Office for Deivanai Nagar Extn-2 1st Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property in Deivanai Nagar Extn-2 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.