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Guideline Value

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Guideline Value for Devaki Nagar 1st Cross Street (Ward 24)

₹3250/sq.ft.

The guideline value for Devaki Nagar 1st Cross Street (ward 24) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 3250 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 8% change. The land classification is Mixed Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Mixed Type - I
History
Period Guideline Value
From 1-7-2024 ₹3250 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Devaki Nagar 1st Cross Street (ward 24)

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Devaki Nagar 1st Cross Street (Ward 24) guideline value

The current guideline value of Devaki Nagar 1st Cross Street (Ward 24) is Rs 3,250 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Mixed Type - I.

How the guideline value of Devaki Nagar 1st Cross Street (Ward 24) has changed

The guideline value for Devaki Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and finally rose to Rs 3,250 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an 8% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Devaki Nagar 1st Cross Street (Ward 24) is above this median.

Stamp duty and registration fee for property in Devaki Nagar 1st Cross Street (Ward 24)

For a 1,000 sq.ft plot at the current rate of Rs 3,250 per sq.ft, the guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, and the registration fee at 2% would be Rs 65,000, totaling Rs 2,92,500. 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 detailed calculations.

Which Sub Registrar Office covers Devaki Nagar 1st Cross Street (Ward 24)?

The Sub Registrar Office that covers Devaki Nagar 1st Cross Street (Ward 24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is fair and transparent for all parties involved.

Frequently asked questions

What is the current guideline value of Devaki Nagar 1st Cross Street (Ward 24)?

The current guideline value of Devaki Nagar 1st Cross Street (Ward 24) is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,250 per sq.ft in 2024.

What is the land classification of Devaki Nagar 1st Cross Street?

Devaki Nagar 1st Cross Street is classified as Mixed Type - I.

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

For a property valued at Rs 32,50,000, the stamp duty would be Rs 2,27,500, and the registration fee would be Rs 65,000, totaling Rs 2,92,500.

Which office handles registrations for Devaki Nagar 1st Cross Street?

The Madhavaram Sub Registrar Office handles registrations for Devaki Nagar 1st Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.