Guideline Value for Devaneri II Cross

Devaneri II Cross guideline value

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

How the guideline value of Devaneri II Cross has changed

The guideline value for Devaneri II Cross has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 750 per sq.ft, and the current 2024 revision has further increased it to Rs 825 per sq.ft, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2017 to 2023 revision saw a significant increase of 49%. It's important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that have a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median value is Rs 935 per sq.ft, placing Devaneri II Cross below this median.

• Devaneri I 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 II Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. Please note that 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 Devaneri II Cross?

The Devaneri II Cross is covered by 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

When buying or selling property in Mamallapuram, the guideline value plays a crucial role in determining the registration fees and stamp duties applicable to the transaction. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

It is essential to understand that the guideline value may differ from the actual market price of the property. However, the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Devaneri II Cross?

The current guideline value of Devaneri II 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 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

What is the land classification of Devaneri II Cross?

Devaneri II Cross is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 74,250.

Which office handles registrations for Devaneri II Cross?

The Thirukazhukundram Sub Registrar Office handles registrations for Devaneri II Cross, located at Thiruchengode - 637 211, Chengalpattu registration zone.