Guideline Value for Devanesan Nagar 3rd Street

Devanesan Nagar 3rd Street guideline value

The current guideline value of Devanesan Nagar 3rd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street 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 Devanesan Nagar 3rd Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,100 per sq.ft. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Devanesan Nagar 3rd Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Devanesan Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devanesan Nagar 3rd Street?

The Sub Registrar Office that covers Devanesan Nagar 3rd Street 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 information.

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

The guideline value is a crucial factor in property transactions in Peerklankaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Devanesan Nagar 3rd Street?

The current guideline value of Devanesan Nagar 3rd Street 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 changed 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 Devanesan Nagar 3rd Street?

The land classification for Devanesan Nagar 3rd Street is Residential Class II Type - I.

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

The Sub Registrar Office for Devanesan Nagar 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.