Guideline Value for Deivasikamani Nagar Main Road

Deivasikamani Nagar Main Road guideline value

The current guideline value of Deivasikamani Nagar Main Road is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Deivasikamani Nagar Main Road has changed

Over the years, the guideline value of Deivasikamani Nagar Main Road has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 1,100 per sq.ft. This figure remained the same until the next revision in 2017, where it decreased to Rs 737 per sq.ft. However, the value saw a significant increase in 2023, rising to Rs 1,100 per sq.ft, and then further increased to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 9%. The most notable change occurred between 2017 and 2023, where there was a 49% increase. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

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 guideline value for these streets is Rs 1,200 per sq.ft, which is equal to the current figure for Deivasikamani Nagar Main Road.

• Deivasikamani Nagar 1st Cross Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. 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 a more personalized estimate.

Which Sub Registrar Office covers Deivasikamani Nagar Main Road?

The Sub Registrar Office that covers Deivasikamani Nagar Main Road 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 is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in calculating the taxes owed. It is essential for both parties to understand that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Deivasikamani Nagar Main Road?

The current guideline value of Deivasikamani Nagar Main Road 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 increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Deivasikamani Nagar Main Road?

The land classification for Deivasikamani Nagar Main Road is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Deivasikamani Nagar Main Road?

The Sub Registrar Office for Deivasikamani Nagar Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.