Guideline Value for Devanathan Colony (W.M)

Devanathan Colony (W.M) guideline value

The current guideline value of Devanathan Colony (W.M) is Rs 4,900 per sq.ft, effective from 1 July 2024. This locality is situated in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Devanathan Colony (W.M) has changed

Over the years, the guideline value for Devanathan Colony (W.M) has seen several revisions. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision brought it back up to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,900 per sq.ft.

Between these revisions, there were notable changes. The increase from 2017 to 2023 was +49%, while the decrease from 2012 to 2017 was -33%. The rise from 2007 to 2012 was a substantial +272%. Overall, from 2007 to 2024, the guideline value has increased by +305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the current guideline value of Devanathan Colony (W.M).

• Devarajan Street (JPT): Rs 4,100 per sq.ft (2024)
• Desikar Street (Block 5): Rs 6,000 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Deivanambi Street (Puranagar): Rs 4,100 per sq.ft (2024)
• Deivanambi Street (Nagaram): Rs 4,100 per sq.ft (2024)
• Dhamodharan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devanathan Colony (W.M)

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devanathan Colony (W.M)?

The Sub Registrar Office that covers Devanathan Colony (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is used to assess the applicable charges, ensuring that the transaction is documented accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Devanathan Colony (W.M)?

The current guideline value for Devanathan Colony (W.M) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of +305% over this period.

What is the registration office for Devanathan Colony (W.M)?

The registration office covering Devanathan Colony (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Devanathan Colony (W.M)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Devarajan Street (JPT) at Rs 4,100 per sq.ft, Desikar Street (Block 5) at Rs 6,000 per sq.ft, and several others, each with varying guideline values.