Guideline Value for Devaraj Nagar 3rd Street

Devaraj Nagar 3rd Street guideline value

The current guideline value of Devaraj Nagar 3rd Street is Rs 2,750 per sq.ft. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Devaraj Nagar 3rd Street has changed

In the 2012 revision, the guideline value for Devaraj Nagar 3rd Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also listed the value at Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased by 10% to Rs 2,750 per sq.ft.

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

Guideline values in Madambakkam

Madambakkam has a total of 1151 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 value for these streets is Rs 2,400 per sq.ft, placing Devaraj Nagar 3rd Street's 2024 figure above that median.

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

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

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

Which Sub Registrar Office covers Devaraj Nagar 3rd Street?

The Sub Registrar Office that covers Devaraj Nagar 3rd 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 details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the amount of stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. It is essential for both parties to be aware of this value to facilitate a smooth transaction and avoid any legal complications.

Frequently asked questions

What is the current guideline value of Devaraj Nagar 3rd Street?

The current guideline value of Devaraj Nagar 3rd Street is Rs 2,750 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 2,500 per sq.ft from 2012 to 2023. However, it increased by 10% to Rs 2,750 per sq.ft in the 2024 revision.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam have guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Devaraj Nagar 3rd Street's value is above this median.

What fees are associated with buying property in Devaraj Nagar 3rd Street?

When buying property, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Devaraj Nagar 3rd Street?

The Selaiyur Sub Registrar Office covers Devaraj Nagar 3rd Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.