Guideline Value for Devaraj Lane

Devaraj Lane guideline value

The current guideline value of Devaraj Lane is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Bhavani village, under the Bhavani Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Devaraj Lane has changed

The guideline value of Devaraj Lane has seen several revisions over the years. In the 2007 revision, the value was Rs 226 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a rise of 210%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a decline of 33%. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figure for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 210%. The 2017 revision recorded a value of Rs 469 per sq.ft, which was a 49% increase from the previous revision in 2023, which was also Rs 700 per sq.ft.

Guideline values in Bhavani

In Bhavani, there are 55 streets under the Bhavani SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 1,445 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing the 2024 guideline value of Devaraj Lane above this median.

• Devapuram: Rs 1,445 per sq.ft (2024)
• East Kannara Street: Rs 1,445 per sq.ft (2024)
• Cauvery Street: Rs 600 per sq.ft (2024)
• Bus Stand Road: Rs 800 per sq.ft (2024)
• Jothi Vinayagar Kovil Street: Rs 500 per sq.ft (2024)
• Bajanai Kovil Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value is Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees together to Rs 63,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devaraj Lane?

The Sub Registrar Office that covers Devaraj Lane is the Bhavani Sub Registrar Office, located at D.no.353/300s Bhavani Taluk Office Compound Mettur Main Road Bhavani 638301, Coimbatore registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Bhavani. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that the guideline value is a reference point for property transactions and can influence the overall costs involved.

When a property is registered, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Devaraj Lane?

The current guideline value of Devaraj Lane is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 226 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft in both 2023 and 2024.

What are the registration fees for property in Devaraj Lane?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which Sub Registrar Office covers Devaraj Lane?

The Bhavani Sub Registrar Office covers Devaraj Lane, located at D.no.353/300s Bhavani Taluk Office Compound Mettur Main Road Bhavani 638301, Coimbatore registration zone.

What is the land classification for Devaraj Lane?

Devaraj Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.