Guideline Value for Devanesan Nagar Kumaran Street

Devanesan Nagar Kumaran Street guideline value

The current guideline value of Devanesan Nagar Kumaran Street is Rs 1,100 per sq.ft. 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 Kumaran Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 670 per sq.ft. However, the 2023 revision saw a significant increase to Rs 1,000 per sq.ft, followed by the latest 2024 revision, which raised it to Rs 1,100 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. In contrast, the value increased by 49% from 2017 to 2023, and there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry 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, placing Devanesan Nagar Kumaran Street's 2024 value below that median.

• Devanesan Nagar Kanndhasan Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar Main Road Extn: Rs 1,320 per sq.ft (2024)
• Devanesan Nagar Kambar Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar Nehru Street: Rs 1,320 per sq.ft (2024)
• Devanesan Nagar 4th Street: Rs 1,100 per sq.ft (2024)
• Devanesan Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devanesan Nagar Kumaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the 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 Devanesan Nagar Kumaran Street?

The Sub Registrar Office that covers Devanesan Nagar Kumaran 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. It determines 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 helps in assessing the financial implications of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Devanesan Nagar Kumaran Street?

The current guideline value for Devanesan Nagar Kumaran 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 seen various changes, with the most recent increase of 10% from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification for Devanesan Nagar Kumaran Street?

Devanesan Nagar Kumaran Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

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

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.