Guideline Value for Deivanai Nagar

Deivanai Nagar guideline value

The current guideline value of Deivanai Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Deivanai Nagar has changed

The guideline value register for Deivanai Nagar has not listed any figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which stands at Rs 2,200 per sq.ft.

As there have been no changes between the revisions above, the 2024 figure remains the only reference for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry 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 of Rs 2,200 per sq.ft for Deivanai Nagar is below this median.

• Deivanai 2nd Cross Street: 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, together totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Deivanai Nagar?

The Sub Registrar Office that covers Deivanai Nagar 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 factor in the registration process of property transactions in Madipakkam-1. It serves as the minimum value for which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to understand that the guideline value will influence the overall transaction costs. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that they are prepared for the associated costs.

Frequently asked questions

What is the current guideline value of Deivanai Nagar?

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

How has the guideline value changed over the years?

The guideline value register for Deivanai Nagar does not have figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

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

Other streets in Madipakkam-1 have varying guideline values. For instance, Deivanai 2nd Cross Street, Deivanai Nagar 1st Street, Deivanai Nagar 2nd Street, Deivanai Nagar 3rd Street, Deivanai Nagar 4th Street, and Deivanai Nagar Extn all share the same guideline value of Rs 2,200 per sq.ft for 2024.

What are the stamp duty and registration fees for properties in Deivanai Nagar?

The stamp duty for properties in Deivanai Nagar is charged at 7%, while the registration fee is 2%. For example, a 1,000 sq.ft plot valued at Rs 22,00,000 would incur a total of Rs 1,98,000 in fees.

Which office handles the registration for Deivanai Nagar?

The Velacheri Sub Registrar Office handles the registration for Deivanai Nagar. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.