Guideline Value for Devaki Nagar 1st Street

Devaki Nagar 1st Street guideline value

The current guideline value for Devaki Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Manancheri village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Devaki Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure saw a decrease in the 2017 revision, dropping to Rs 804 per sq.ft, which represented a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 marked a further increase to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

The revisions from the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing the 2024 figure for Devaki Nagar 1st Street above this median.

• Devaki Nagar: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Devandran Nagar: Rs 990 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the 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 Devaki Nagar 1st Street?

The Sub Registrar Office that covers Devaki Nagar 1st 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 Manancheri

The guideline value is a critical factor in the registration process of property transactions in Manancheri. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is in line with government valuations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value for Devaki Nagar 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, then rising to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification for Devaki Nagar 1st Street?

Devaki Nagar 1st Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Devaki Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would be Rs 1,18,800, which includes both stamp duty and registration fees.