Guideline Value for Devandran Nagar

Devandran Nagar guideline value

The current guideline value for Devandran Nagar, located in Manancheri village under the Kunrathur SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Devandran Nagar has changed

Over the years, the guideline value of Devandran Nagar has seen several revisions. Starting from Rs 175 per sq.ft in 2007, it increased significantly to Rs 900 per sq.ft in 2012, marking a 414% rise. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 900 per sq.ft in 2023, and most recently, it has been revised to Rs 990 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase amounts to 466%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which aligns with the guideline value for Devandran Nagar.

• Devaki Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 3rd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• Devaki Nagar: Rs 1,320 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Devandran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for these fees would be Rs 89,100. It is essential 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 information.

Which Sub Registrar Office covers Devandran Nagar?

The Sub Registrar Office that covers Devandran Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devandran Nagar?

The current guideline value of Devandran Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What are the stamp duty rates for property in Devandran Nagar?

The stamp duty rate for properties in Devandran Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Devandran Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Devandran Nagar?

Devandran Nagar is classified as Residential Class I Type - I, which is important for understanding the regulations and guidelines applicable to this area.