Guideline Value for Devan Street

Devan Street guideline value

The current guideline value of Devan Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This classification falls under Residential Special Type - I.

How the guideline value of Devan Street has changed

The guideline value of Devan Street has seen several revisions over the years. In 2012, the value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and further rose to the current value of Rs 1,700 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Devan Street's current figure of Rs 1,700 per sq.ft is above this median.

• Devagi Street: Rs 1,000 per sq.ft (2024)
• Devar Street (Arumuganagar): Rs 1,700 per sq.ft (2024)
• Devar Street (Gnanamoorthy Nagar): Rs 1,700 per sq.ft (2024)
• Devi Karumariamman Street: Rs 1,002 per sq.ft (2024)
• Devi Street: Rs 1,000 per sq.ft (2024)
• DABC Layout: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Devan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 further calculations.

Which Sub Registrar Office covers Devan Street?

The Sub Registrar Office that covers Devan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devan Street?

The current guideline value of Devan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft in 2024.

What is the land classification of Devan Street?

Devan Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Devan Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where can I find the Sub Registrar Office for Devan Street?

The Sub Registrar Office for Devan Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.