Guideline Value for Devaki Nagar

Devaki Nagar guideline value

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

How the guideline value of Devaki Nagar has changed

The guideline value for Devaki Nagar has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 250 per sq.ft. This figure increased dramatically to Rs 1,200 per sq.ft in 2012, marking a 380% rise. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, reflecting a drop of 33%. The guideline value then rose to Rs 1,200 per sq.ft in 2023, and subsequently increased by 10% to reach the current value of Rs 1,320 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 428%. The register has no figures for the years 2002 and 2003 for this street.

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 guideline value in this area is Rs 990 per sq.ft, placing Devaki Nagar's 2024 figure above this median.

• Devaki Nagar 1st Street: 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

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. Together, the total cost for stamp duty and registration fee would be Rs 1,18,800. 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?

The Sub Registrar Office that covers Devaki Nagar 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 when buying or selling property in Manancheri, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Devaki Nagar?

The current guideline value of Devaki Nagar 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 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What are the stamp duty and registration fees in Devaki Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,18,800.

Which Sub Registrar Office covers Devaki Nagar?

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

What is the land classification of Devaki Nagar?

Devaki Nagar falls under the Residential Special Type - I land classification, indicating its suitability for residential development.