Guideline Value for Devaneri I Cross

Devaneri I Cross guideline value

The current guideline value of Devaneri I Cross is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village under the Thirukazhukundram SRO, classified as Residential Class I Type - III.

How the guideline value of Devaneri I Cross has changed

The guideline value for Devaneri I Cross has seen several revisions over the years. The 2024 revision sets the value at Rs 825 per sq.ft, an increase from Rs 750 per sq.ft in the 2023 revision, representing a 10% rise. Prior to that, in 2017, the value was Rs 502 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 750 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The last recorded values before 2012 were not available in the register, but the 2012 figure of Rs 750 per sq.ft was established after those years.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 935 per sq.ft, indicating that Devaneri I Cross's 2024 figure is below that median.

• Devaneri II Cross: Rs 825 per sq.ft (2024)
• Devaneri III Cross: Rs 825 per sq.ft (2024)
• Devaneri Meenavar Colony Road: Rs 1,210 per sq.ft (2024)
• Devaneri School Road: Rs 825 per sq.ft (2024)
• Devaneri SunamiNagar Main Road: Rs 1,210 per sq.ft (2024)
• Devaneri Village East Coast Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devaneri I Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total cost to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaneri I Cross?

The Sub Registrar Office covering Devaneri I Cross is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mamallapuram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

During the registration process, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Devaneri I Cross?

The current guideline value of Devaneri I Cross is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024, and from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023. There was a decrease from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017.

What is the median guideline value in Mamallapuram?

The median guideline value for streets in Mamallapuram is Rs 935 per sq.ft, with Devaneri I Cross's 2024 value being below this median.

What are the stamp duty and registration fees for property in Devaneri I Cross?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total cost for stamp duty and registration fees would be Rs 74,250.

Which office handles the registration for Devaneri I Cross?

The registration for Devaneri I Cross is handled by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.