Guideline Value for Devaneri Meenavar Colony Road

Devaneri Meenavar Colony Road guideline value

The current guideline value of Devaneri Meenavar Colony Road is Rs 1,210 per sq.ft, effective from 1 July 2024. This road is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Devaneri Meenavar Colony Road has changed

Over the years, the guideline value for Devaneri Meenavar Colony Road has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 850 per sq.ft. This value decreased to Rs 569 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 93%, bringing the value to Rs 1,100 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,210 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 42%.

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 among these streets is Rs 935 per sq.ft, placing Devaneri Meenavar Colony Road's 2024 figure above the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to Rs 1,08,900. It is important to note that the 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 Devaneri Meenavar Colony Road?

The Sub Registrar Office that covers Devaneri Meenavar Colony Road is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the financial obligations associated with the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Devaneri Meenavar Colony Road?

The current guideline value of Devaneri Meenavar Colony Road is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 850 per sq.ft in 2012 to Rs 1,210 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the land classification for Devaneri Meenavar Colony Road?

Devaneri Meenavar Colony Road is classified as Residential Class III Type - I.

Where can I find the registration office for this area?

The registration office for Devaneri Meenavar Colony Road is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 12,10,000 would incur a stamp duty of Rs 84,700 at 7%.