Guideline Value for Devanesan Nagar Nehru Street

Devanesan Nagar Nehru Street guideline value

The current guideline value of Devanesan Nagar Nehru Street 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 Nehru Street has changed

The guideline value for Devanesan Nagar Nehru Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision further raised it to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. The register does not contain figures 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 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, which means that Devanesan Nagar Nehru Street's 2024 value is below the median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. Please 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 information.

Which Sub Registrar Office covers Devanesan Nagar Nehru Street?

The Sub Registrar Office covering Devanesan Nagar Nehru 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 details.

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

The guideline value is a crucial factor when registering a property 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 a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees. This value serves as a benchmark for both parties, ensuring transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Devanesan Nagar Nehru Street?

The current guideline value of Devanesan Nagar Nehru Street 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. This reflects various increases and decreases over the years.

What is the registration office for Devanesan Nagar Nehru Street?

The registration office for Devanesan Nagar Nehru 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 properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used as a benchmark for property transactions in Peerklankaranai, determining the minimum registration value. It ensures that the appropriate stamp duty and registration fees are collected during property transfers.