Guideline Value for Devanesa Nagar 2nd Main Road

Devanesa Nagar 2nd Main Road guideline value

The current guideline value of Devanesa Nagar 2nd Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devanesa Nagar 2nd Main Road has changed

The guideline value for Devanesa Nagar 2nd Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft, and the most recent 2024 revision raised it to Rs 1,100 per sq.ft. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Devanesa Nagar 2nd Main Road's 2024 figure is below this median.

• Devanesa Nagar 1st Main Road: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar 1St Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar 3rd Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar Kambar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devanesa Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devanesa Nagar 2nd Main Road?

The Sub Registrar Office that covers Devanesa Nagar 2nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties involved in the transaction are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Devanesa Nagar 2nd Main Road?

The current guideline value of Devanesa Nagar 2nd Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Devanesa Nagar 2nd Main Road?

The land classification for Devanesa Nagar 2nd Main Road is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Devanesa Nagar 2nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft, the total fees would amount to Rs 99,000.