Guideline Value for Devadoss Street

Devadoss Street guideline value

The current guideline value of Devadoss Street in Mugappair village is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Special Type - I.

How the guideline value of Devadoss Street has changed

Over the years, the guideline value of Devadoss Street has seen several revisions. The 2012 revision set the value at Rs 6,500 per sq.ft, which was then reduced to Rs 4,355 per sq.ft in the 2017 revision. This was a decrease of 33%. However, the value rebounded significantly in the 2023 revision to Rs 6,500 per sq.ft, marking a 49% increase from the 2017 figure. The most recent revision in 2024 raised the value to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 9%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the current guideline value of Devadoss Street. Below are other streets in Mugappair with their respective guideline values:

• Collector Nagar: Rs 7,100 per sq.ft (2024)
• Church Road - I (Mogappair East Bustand upto Coovam River): Rs 7,100 per sq.ft (2024)
• Church Road - II (S.No.302. M.M.M.Backsite): Rs 7,100 per sq.ft (2024)
• Church Road - III (Near Mathizhagan Nagar): Rs 3,800 per sq.ft (2024)
• Chandrasekar Street: Rs 3,800 per sq.ft (2024)
• Burner Salai: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Devadoss Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total fees would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Devadoss Street?

The Sub Registrar Office that covers Devadoss Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When purchasing property, the guideline value serves as a benchmark for the minimum price at which the property can be registered. It is essential to verify the guideline value to avoid any discrepancies in the registration process.

Frequently asked questions

What is the current guideline value of Devadoss Street?

The current guideline value of Devadoss Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then back to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,100 per sq.ft in 2024.

What is the registration office for Devadoss Street?

The registration office for Devadoss Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the stamp duty rate for properties in Devadoss Street?

The stamp duty rate for properties in Devadoss Street is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets in Mugappair with the same guideline value?

Yes, several other streets in Mugappair also have a guideline value of Rs 7,100 per sq.ft, including Collector Nagar, Church Road - I, and Church Road - II.