Guideline Value for Deivanai Nagar Extn

Deivanai Nagar Extn guideline value

The current guideline value of Deivanai Nagar Extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This location falls under Madipakkam-1 village and is governed by the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Deivanai Nagar Extn has changed

In the 2017 revision, the guideline value was recorded at Rs 1,340 per sq.ft. With the 2024 revision, the value increased significantly to Rs 2,200 per sq.ft, marking a change of +64% over the seven-year period. The register does not provide figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The 2024 figure of Rs 2,200 per sq.ft is a notable increase compared to the previous revision in 2017. This change reflects the evolving property landscape in the area, although earlier revisions do not contain any figures for Deivanai Nagar Extn.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Deivanai Nagar Extn is below this median.

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

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, leading to a total of 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Deivanai Nagar Extn?

The Sub Registrar Office that covers Deivanai Nagar Extn 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall financial obligations associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Deivanai Nagar Extn?

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

What are the guideline values of other streets in Madipakkam-1?

Other streets in Madipakkam-1 have guideline values ranging from Rs 2,200 per sq.ft to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft.

What is the registration fee for property in Deivanai Nagar Extn?

The registration fee for property in Deivanai Nagar Extn is calculated at 2% of the guideline value, which is Rs 44,000 for a 1,000 sq.ft plot at the current rate.

Where can I find the Sub Registrar Office for Deivanai Nagar Extn?

The Velacheri Sub Registrar Office, which covers Deivanai Nagar Extn, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.