Guideline Value for Devanchi Nagar

Devanchi Nagar guideline value

The current guideline value of Devanchi Nagar, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Devanchi Nagar has changed

The guideline value for Devanchi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% back to Rs 1,200 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 1,200 per sq.ft, indicating stability in the valuation for this location.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the current value of Devanchi Nagar.

• Dharmaraj Nagar: Rs 1,200 per sq.ft (2024)
• CMFRI Nagar: Rs 1,200 per sq.ft (2024)
• Dr.Srinivasan Nagar: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn-II: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Devanchi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. 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 Devanchi Nagar?

The Sub Registrar Office covering Devanchi Nagar 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 Madambakkam

The guideline value plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. These fees are essential for the legal transfer of ownership and must be paid to the relevant authorities to complete the transaction.

Frequently asked questions

What is the current guideline value of Devanchi Nagar?

The current guideline value of Devanchi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft since 2023, with a significant increase of 49% from Rs 804 per sq.ft in 2017. The value was also Rs 1,200 per sq.ft in 2012.

Where can I find the registration office for Devanchi Nagar?

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

What are the stamp duty rates for properties in Devanchi Nagar?

The stamp duty for properties in Devanchi Nagar is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

What is the land classification for Devanchi Nagar?

The land classification for Devanchi Nagar is Commercial Special Type - I, which indicates the zoning regulations applicable to this area.