Guideline Value for Devaki Nagar Ring Road Part-I

Devaki Nagar Ring Road Part-I guideline value

The current guideline value of Devaki Nagar Ring Road Part-I is Rs 3,250 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Mixed Type - I.

How the guideline value of Devaki Nagar Ring Road Part-I has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,250 per sq.ft, reflecting an 8% increase from the previous year. Overall, from 2012 to 2024, the guideline value has risen by 8%.

The register has no figure for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions applicable are from 2012, 2023, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, placing the guideline value of Devaki Nagar Ring Road Part-I above this median.

• Devaki Nagar Ring Road: Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Ponniamman Medu) (Ward-24): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-IV): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-III): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-II): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-I): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Devaki Nagar Ring Road Part-I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,250 per sq.ft, the total guideline value amounts to Rs 32,50,000. The stamp duty at 7% would be Rs 2,27,500, while the registration fee at 2% would be Rs 65,000. Together, the total cost for stamp duty and registration fee would be Rs 2,92,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaki Nagar Ring Road Part-I?

The Sub Registrar Office that covers Devaki Nagar Ring Road Part-I 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 plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is assessed to calculate the applicable fees. It is essential to be aware of the guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Devaki Nagar Ring Road Part-I?

The current guideline value of Devaki Nagar Ring Road Part-I 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 3,250 per sq.ft in 2024, reflecting an overall increase of 8% from 2012 to 2024.

Which Sub Registrar Office covers the area of Devaki Nagar Ring Road Part-I?

The Madhavaram Sub Registrar Office covers the area of Devaki Nagar Ring Road Part-I, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the range of guideline values for streets in Madhavaram?

The guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft.

How is stamp duty calculated for properties in Devaki Nagar Ring Road Part-I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 32,50,000 would incur a stamp duty of Rs 2,27,500 at a rate of 7%.