Guideline Value for Devanderan Nagar

Devanderan Nagar guideline value

The current guideline value of Devanderan Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Devanderan Nagar has changed

The guideline value for Devanderan Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a remarkable rise of 400%. However, from 2012 to 2017, it decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,160 per sq.ft, an increase of 8% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 440%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,530 per sq.ft, making the current guideline value of Devanderan Nagar below this median.

• Crystal Court: Rs 2,530 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,980 per sq.ft (2024)
• Colony Street: Rs 1,080 per sq.ft (2024)
• Cmrd Road: Rs 3,300 per sq.ft (2024)
• Chittheri Quarters: Rs 2,160 per sq.ft (2024)
• Durairaj Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Devanderan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devanderan Nagar?

The Sub Registrar Office that covers Devanderan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kilkattalai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property. This value is used during the registration process to determine the applicable charges.

When a property is sold, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers and sellers to consider this value to avoid discrepancies during the registration process, as the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Devanderan Nagar?

The current guideline value of Devanderan Nagar is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over the years.

What is the land classification of Devanderan Nagar?

Devanderan Nagar falls under the Residential Class III Type - I land classification.

Where can I find the Sub Registrar Office for Devanderan Nagar?

The Sub Registrar Office for Devanderan Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated in Devanderan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,51,200.