Guideline Value for Devaki Street 1,2 Lane

Devaki Street 1,2 Lane guideline value

The current guideline value of Devaki Street 1,2 Lane in Naravarikuppam village under the Redhills SRO is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Devaki Street 1,2 Lane has changed

The guideline value for Devaki Street 1,2 Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 804 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a substantial increase again, reaching Rs 1,200 per sq.ft in the 2023 revision, and finally rising to Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Devaki Street 1,2 Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Devaki Street 1,2 Lane is below this median.

• Devaki Street: Rs 1,650 per sq.ft (2024)
• Devanbu Street: Rs 1,320 per sq.ft (2024)
• Dharga Street: Rs 1,320 per sq.ft (2024)
• C.K. Manikkanar Street Extn.: Rs 1,320 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)
• Church Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Devaki Street 1,2 Lane

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, totaling Rs 1,18,800. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaki Street 1,2 Lane?

The Sub Registrar Office that covers Devaki Street 1,2 Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the duties owed, ensuring that the transaction reflects the official valuation of the property. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Devaki Street 1,2 Lane?

The current guideline value of Devaki Street 1,2 Lane 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 significantly from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the median guideline value for streets in Naravarikuppam?

The median guideline value for streets in Naravarikuppam is Rs 1,650 per sq.ft as of 2024.

Where is the Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,18,800.