Guideline Value for Devagiammal Street (Bashyam Reddy Colony)

Devagiammal Street (Bashyam Reddy Colony) guideline value

The current guideline value of Devagiammal Street (Bashyam Reddy Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Devagiammal Street (Bashyam Reddy Colony) has changed

The guideline value for Devagiammal Street (Bashyam Reddy Colony) has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then rose significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. Notably, the revisions for the years 2002 and 2003 do not have figures recorded for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by an 8% increase from 2023 to 2024. The change from 2012 to 2017 was a decrease of 33%, while the value surged by 150% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Devagiammal Street's 2024 figure below this median.

• Devagiammal Cross Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)
• Devagiyammal Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Dakshinamurthy Street: Rs 2,700 per sq.ft (2024)
• Dakshinamurthy Cross Street: Rs 2,700 per sq.ft (2024)
• Chinnaswamy Raja Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Devagiammal Street (Bashyam Reddy Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, charged at 7%, would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Devagiammal Street (Bashyam Reddy Colony)?

The Sub Registrar Office that covers Devagiammal Street (Bashyam Reddy Colony) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as the basis for calculating stamp duty and registration fees, which are essential components of the property transaction process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value for Devagiammal Street (Bashyam Reddy Colony)?

The current guideline value for Devagiammal Street (Bashyam Reddy Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170%.

What is the land classification for Devagiammal Street?

Devagiammal Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.