Guideline Value for Devaraj Nagar Main Road

Devaraj Nagar Main Road guideline value

The current guideline value of Devaraj Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Devaraj Nagar Main Road has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has risen by 10%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for Devaraj Nagar Main Road. The lack of data from these years indicates that the guideline value has remained stable at Rs 2,500 per sq.ft until the recent revisions.

Guideline values in Madambakkam

Madambakkam has a total of 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing the Devaraj Nagar Main Road's 2024 figure above that median.

• Devaraj Nagar Madampakkam Main Road: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar Pamila Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar Ponnaiah Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar Sheela Rajarathinam Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Nagar Main Road

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 fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations based on your specific property.

Which Sub Registrar Office covers Devaraj Nagar Main Road?

The Sub Registrar Office that covers Devaraj Nagar Main Road 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 critical factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During registration, the seller must declare the sale price of the property. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devaraj Nagar Main Road?

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

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 2,500 per sq.ft from 2012 to 2023 and increased to Rs 2,750 per sq.ft in 2024, reflecting 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, which is lower than the current guideline value of Devaraj Nagar Main Road.

What fees are associated with property transactions in Devaraj Nagar Main Road?

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Devaraj Nagar Main Road located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.