Guideline Value for Devaki Nagar 2nd Street

Devaki Nagar 2nd Street guideline value

The current guideline value of Devaki Nagar 2nd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Manancheri village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Devaki Nagar 2nd Street has changed

Over the years, the guideline value of Devaki Nagar 2nd Street has seen several revisions. The earliest available figure is from 2012, where it was set at Rs 1,200 per sq.ft. This figure remained until the next revision in 2017, which saw a decrease of 33% to Rs 804 per sq.ft. The value then increased significantly by 49% to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 has raised the guideline value to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Devaki Nagar 2nd Street. Overall, comparing the values from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO, with guideline values ranging from Rs 550 to Rs 3,400 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Devaki Nagar 2nd Street above this median at Rs 1,320 per sq.ft.

• Devaki Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaki Nagar 2nd Street?

The Sub Registrar Office covering Devaki Nagar 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Manancheri. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Devaki Nagar 2nd Street?

The current guideline value of Devaki Nagar 2nd 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Devaki Nagar 2nd Street?

The land classification for Devaki Nagar 2nd Street is Residential Special Type - I.

Where can I find information about stamp duty and registration fees?

You can find information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Devaki Nagar 2nd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.