Guideline Value for Devanbu Street

Devanbu Street guideline value

The current guideline value of Devanbu Street in Naravarikuppam village, under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Devanbu Street has changed

The guideline value for Devanbu Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which dropped significantly to Rs 353 per sq.ft in 2003. The value continued to increase over the years, reaching Rs 400 per sq.ft in 2007, then rising to Rs 1,200 per sq.ft in 2012. However, it saw a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, before the current revision to Rs 1,320 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. There was a notable increase of 200% from 2007 to 2012. The overall change from 2002 to 2024 shows a decrease of 62%. There are no figures available for the years not mentioned in this register for Devanbu Street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Devanbu Street's 2024 figure is below this median.

• Devaki Street 1,2 Lane: Rs 1,320 per sq.ft (2024)
• Devaki Street: Rs 1,650 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 Devanbu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. 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 Devanbu Street?

The Sub Registrar Office that covers Devanbu Street 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

When buying or selling property in Naravarikuppam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline values for accurate financial planning. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

What is the current guideline value of Devanbu Street?

The current guideline value of Devanbu Street 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 from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall decrease of 62% over the years.

What are the stamp duty and registration fees for properties on Devanbu Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Devanbu Street?

The Redhills Sub Registrar Office handles registrations for Devanbu Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Naravarikuppam?

The median guideline value for streets in Naravarikuppam is Rs 1,650 per sq.ft, with Devanbu Street's value being below this median at Rs 1,320 per sq.ft.