Guideline Value for Devaraj 2nd Street (Ward 11)

Devaraj 2nd Street (Ward 11) guideline value

The current guideline value of Devaraj 2nd Street (Ward 11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Devaraj 2nd Street (Ward 11) has changed

The guideline value for Devaraj 2nd Street has seen changes over the years, with the most recent revision in 2024 setting the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023. This marks an 8% rise from the previous year.

There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street. The only revisions recorded are for 2023 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Devaraj 2nd Street is below this median.

• Devaraj 1st Street (Ward 11): Rs 1,300 per sq.ft (2024)
• Devaki Nagar Ring Road Part-I: Rs 3,250 per sq.ft (2024)
• Devaki Nagar Ring Road: Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Ponniamman Medu) (Ward-24): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-IV): Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Part-III): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj 2nd Street (Ward 11)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaraj 2nd Street (Ward 11)?

The Sub Registrar Office that covers Devaraj 2nd Street (Ward 11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in ensuring that both buyers and sellers are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Devaraj 2nd Street (Ward 11)?

The current guideline value for Devaraj 2nd Street (Ward 11) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Devaraj 2nd Street has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an increase of 8%.

What is the land classification for Devaraj 2nd Street?

Devaraj 2nd Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Devaraj 2nd Street?

The Sub Registrar Office for Devaraj 2nd Street (Ward 11) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be calculated at 7% of this amount.