Guideline Value for Devaki Nagar Ring Road

Devaki Nagar Ring Road guideline value

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

How the guideline value of Devaki Nagar Ring Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 3,250 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 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. The median value is Rs 1,600 per sq.ft, placing the guideline value of Devaki Nagar Ring Road above that median.

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

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

Which Sub Registrar Office covers Devaki Nagar Ring Road?

The Sub Registrar Office that covers Devaki Nagar Ring Road 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 during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

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

The current guideline value of Devaki Nagar Ring Road is Rs 3,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,000 per sq.ft to Rs 3,250 per sq.ft in the 2024 revision, reflecting an overall increase of 8%.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for the area is Rs 1,600 per sq.ft.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,92,500 in fees based on the current guideline value.

Which office handles property registrations for Devaki Nagar Ring Road?

The Madhavaram Sub Registrar Office handles property registrations for Devaki Nagar Ring Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.