Guideline Value for Devaraj Nagar 2nd Street

Devaraj Nagar 2nd Street guideline value

The current guideline value for Devaraj Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Devaraj Nagar 2nd Street has changed

Over the years, the guideline value for Devaraj Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 2,500 per sq.ft, but it increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, and Devaraj Nagar 2nd Street's 2024 figure of Rs 2,750 per sq.ft is above this median.

• Devaraj Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Devaraj Nagar 2nd Street?

The Sub Registrar Office that covers Devaraj Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Devaraj Nagar 2nd Street?

The current guideline value of Devaraj Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Devaraj Nagar 2nd Street has remained at Rs 2,500 per sq.ft from 2012 to 2023 and increased to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with Devaraj Nagar 2nd Street's value being above this median at Rs 2,750 per sq.ft.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Devaraj Nagar 2nd Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Devaraj Nagar 2nd Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.