Guideline Value for Deivanambi Street (Nagaram)

Deivanambi Street (Nagaram) guideline value

The current guideline value of Deivanambi Street (Nagaram) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Deivanambi Street (Nagaram) has changed

The guideline value for Deivanambi Street has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% increase. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 4,100 per sq.ft, an increase of 9% from the previous year.

It is important to note that the register has no figures for Deivanambi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Deivanambi Street's 2024 figure is below this median.

• Deivanambi Street (Puranagar): Rs 4,100 per sq.ft (2024)
• Desikar Street (Block 5): Rs 6,000 per sq.ft (2024)
• Devanathan Colony (W.M): Rs 4,900 per sq.ft (2024)
• Devarajan Street (JPT): Rs 4,100 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dhamodharan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Deivanambi Street (Nagaram)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Deivanambi Street (Nagaram)?

The Sub Registrar Office that covers Deivanambi Street (Nagaram) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodambakkam

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which properties can be registered. When a buyer purchases a property, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value as it affects the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value of Deivanambi Street (Nagaram)?

The current guideline value of Deivanambi Street (Nagaram) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What are the stamp duty and registration fees for property in Deivanambi Street?

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office covers the area of Deivanambi Street (Nagaram)?

The Ashok Nagar Sub Registrar Office covers Deivanambi Street (Nagaram), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value determines the minimum registration value for properties and is used to calculate stamp duty and registration fees, ensuring appropriate revenue for the government during property transactions.