Guideline Value for Devan Garden

Devan Garden guideline value

The current guideline value of Devan Garden, located in Vellerithangal village under the Gooduvancheri SRO, is Rs 400 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Devan Garden has changed

The guideline value for Devan Garden has seen several revisions over the years. The 2007 revision set the value at Rs 75 per sq.ft, which significantly increased to Rs 400 per sq.ft in 2012, marking a substantial rise of 433%. However, from 2012 to 2017, the value decreased by 33% to Rs 268 per sq.ft. The 2023 revision maintained the value at Rs 400 per sq.ft, and the 2024 revision also holds it steady at Rs 400 per sq.ft, indicating no change between 2023 and 2024.

In summary, from the 2017 revision to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 433%.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft, with the median being Rs 400 per sq.ft. Devan Garden's 2024 guideline value aligns with this median.

• D.A Colony Extn: Rs 400 per sq.ft (2024)
• DA Colony: Rs 400 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 400 per sq.ft (2024)
• Jayaram Nagar: Rs 300 per sq.ft (2024)
• Krishnamohana Nagar: Rs 400 per sq.ft (2024)
• Mahasakthi Raja Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Devan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, which totals Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee is Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devan Garden?

The Sub Registrar Office that covers Devan Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Vellerithangal. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is established by the government and is subject to periodic revisions.

When registering a property, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Devan Garden?

The current guideline value of Devan Garden is Rs 400 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 75 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Devan Garden?

The land classification for Devan Garden is Residential Special Type - II, indicating its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value is Rs 4,00,000, leading to a total fee of Rs 36,000.