Guideline Value for Deivasikamani Nagar 1st Cross Street

Deivasikamani Nagar 1st Cross Street guideline value

The current guideline value for Deivasikamani Nagar 1st Cross Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Deivasikamani Nagar 1st Cross Street has changed

Over the years, the guideline value for Deivasikamani Nagar 1st Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which was followed by a decrease to Rs 737 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,100 per sq.ft, and the latest revision in 2024 raised it to Rs 1,200 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 9% increase, resulting in an overall increase of 9% from 2012 to 2024.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which aligns with the guideline value of Deivasikamani Nagar 1st Cross Street.

• Deivasikamani Nagar Main Road: Rs 1,200 per sq.ft (2024)
• Elumalaiyan Nagar: Rs 1,200 per sq.ft (2024)
• Kalaimamani K.P.Arivanandham Street: Rs 1,200 per sq.ft (2024)
• Akrakara Street Main Road: Rs 1,200 per sq.ft (2024)
• Akrakara Street 2nd Street (Left): Rs 1,200 per sq.ft (2024)
• Akrakara Street 1st Street (Left): Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Deivasikamani Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total charges Rs 1,08,000. 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 Deivasikamani Nagar 1st Cross Street?

The Sub Registrar Office that covers Deivasikamani Nagar 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is in line with or above the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value for Deivasikamani Nagar 1st Cross Street?

The current guideline value for Deivasikamani Nagar 1st Cross Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

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

For a property valued at Rs 12,00,000, the stamp duty is Rs 84,000 and the registration fee is Rs 24,000, totaling Rs 1,08,000. Duty is charged on the higher of the guideline value and the sale price.

Which office handles property registrations in Deivasikamani Nagar 1st Cross Street?

The Kunrathur Sub Registrar Office handles property registrations for Deivasikamani Nagar 1st Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Deivasikamani Nagar 1st Cross Street?

The land classification for Deivasikamani Nagar 1st Cross Street is Residential Special Type - I, indicating its intended use for residential purposes.