Guideline Value for Devaraj Gramani Colony

Devaraj Gramani Colony guideline value

The current guideline value of Devaraj Gramani Colony is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Devaraj Gramani Colony has changed

The guideline value for Devaraj Gramani Colony has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, but then dropped to Rs 804 per sq.ft in 2017. The value saw a significant rise to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 1,300 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 100%, but then decreased by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally, there was an 8% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Devaraj Gramani Colony's 2024 figure is below this median.

• Devi Karumariamman Nagar 1st Main Road: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar1st Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar2nd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 4 th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Gramani Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaraj Gramani Colony?

The Sub Registrar Office that covers Devaraj Gramani Colony is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements. The guideline value can influence the overall cost of the transaction, making it a significant element in the buying and selling process.

Frequently asked questions

What is the current guideline value of Devaraj Gramani Colony?

The current guideline value of Devaraj Gramani Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various increases and decreases in between. The most significant increase occurred from 2017 to 2023, where it rose by 49%.

What is the land classification of Devaraj Gramani Colony?

Devaraj Gramani Colony is classified as Residential Class II Type - I, indicating its designation for residential use.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Devaraj Gramani Colony?

The Sub Registrar Office for Devaraj Gramani Colony is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.