Guideline Value for Devanesan Nagar Main Road Extn

Devanesan Nagar Main Road Extn guideline value

The current guideline value of Devanesan Nagar Main Road Extn is Rs 1,320 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 I Type - III.

How the guideline value of Devanesan Nagar Main Road Extn has changed

The guideline value for Devanesan Nagar Main Road Extn has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following that, the 2023 revision saw an increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

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

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, with a median value of Rs 1,650 per sq.ft. The guideline value of Devanesan Nagar Main Road Extn is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. 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 Devanesan Nagar Main Road Extn?

The Sub Registrar Office that covers Devanesan Nagar Main Road Extn 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 when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. This means that the buyer will need to pay the stamp duty based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is officially documented and legally binding.

Frequently asked questions

What is the current guideline value of Devanesan Nagar Main Road Extn?

The current guideline value of Devanesan Nagar Main Road Extn is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Devanesan Nagar Main Road Extn?

The land classification for Devanesan Nagar Main Road Extn is Residential Class I Type - III.

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

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 13,20,000, the stamp duty would be calculated at 7% of this amount.