Guideline Value for Devaki Nagar

Devaki Nagar guideline value

The current guideline value of Devaki Nagar in Irumpuliyur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Devaki Nagar has changed

The guideline value of Devaki Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017 before rising significantly to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft. It is important to note that the register has no figures for this street in 2002 and 2003.

Between the revisions, the changes are as follows: from 2007 to 2012, the value increased by 100%, but then it decreased by 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023, and a further increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Devaki Nagar's 2024 figure below that median.

• Darma Thottam Erikarai Street: Rs 1,650 per sq.ft (2024)
• Darma Thottam 3rd Street: Rs 2,200 per sq.ft (2024)
• Darma Thottam 2nd Street (Bharathidasan Street): Rs 2,530 per sq.ft (2024)
• Darma Thottam 1st Street: Rs 2,530 per sq.ft (2024)
• Darma Thottam: Rs 2,530 per sq.ft (2024)
• Devaraj Pillai Cross St: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Irumpuliyur. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devaki Nagar?

The current guideline value of Devaki Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the land classification of Devaki Nagar?

Devaki Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The Sub Registrar Office for Devaki Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Tambaram Joint 1 SRO.

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

Stamp duty for properties in Devaki Nagar is calculated based on the guideline value or sale price, whichever is higher. For example, a plot of 1,000 sq.ft at the current guideline value incurs a total stamp duty and registration fee of Rs 99,000.