Guideline Value for Devaneri III Cross

Devaneri III Cross guideline value

The current guideline value of Devaneri III 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 III Cross has changed

The guideline value for Devaneri III Cross has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced 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 most recent 2024 revision has raised it to Rs 825 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the change from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets listed under the Thirukazhukundram SRO with a 2024 guideline value range from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 935 per sq.ft, indicating that the guideline value for Devaneri III Cross is below this median.

• Devaneri II Cross: Rs 825 per sq.ft (2024)
• Devaneri Meenavar Colony Road: Rs 1,210 per sq.ft (2024)
• Devaneri I Cross: Rs 825 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 III 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 charges together to Rs 74,250. 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 Devaneri III Cross?

The Devaneri III Cross falls under 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 during property registration in Mamallapuram. It is used to determine the applicable stamp duty and registration fees, which are essential costs incurred during the transaction process.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. This ensures that the government receives the appropriate revenue through taxes, reflecting the property's value in the region.

Frequently asked questions

What is the current guideline value of Devaneri III Cross?

The current guideline value of Devaneri III 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 seen several revisions, with the most recent increase from Rs 750 per sq.ft in 2023 to Rs 825 per sq.ft in 2024, a change of 10%. The value was Rs 502 per sq.ft in 2017 and Rs 750 per sq.ft in 2012.

What is the land classification for Devaneri III Cross?

Devaneri III Cross is classified as Residential Class I Type - III, indicating its designated use for residential purposes.

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

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Thirukazhukundram Sub Registrar Office located?

The Thirukazhukundram Sub Registrar Office is located at Thiruchengode - 637 211, Chengalpattu registration zone. This office handles the registration of properties in the area.