Guideline Value for Devaki Nagar 3rd Street

Devaki Nagar 3rd Street guideline value

The current guideline value of Devaki Nagar 3rd 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, classified as Residential Special Type - I.

How the guideline value of Devaki Nagar 3rd Street has changed

Over the years, the guideline value for Devaki Nagar 3rd Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value saw a decline of 33%. However, between 2017 and 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase, culminating in the current guideline value of Rs 1,320 per sq.ft.

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, making the guideline value of Devaki Nagar 3rd Street above the median.

• Devaki Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, 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, resulting in a total cost of 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaki Nagar 3rd Street?

The Sub Registrar Office that covers Devaki Nagar 3rd 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 crucial factor in property transactions in Manancheri, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Devaki Nagar 3rd Street?

The current guideline value of Devaki Nagar 3rd 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 increased 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 of Devaki Nagar 3rd Street?

Devaki Nagar 3rd Street is classified as Residential Special Type - I under the guideline value register.

How is the stamp duty calculated for properties in Devaki Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 92,400.

Where can I find the Sub Registrar Office for Devaki Nagar 3rd Street?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers Devaki Nagar 3rd Street.