Guideline Value for Devaraj Nagar Ponnaiah Street

Devaraj Nagar Ponnaiah Street guideline value

The current guideline value of Devaraj Nagar Ponnaiah 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 is classified as Commercial Class I Type - I.

How the guideline value of Devaraj Nagar Ponnaiah Street has changed

The guideline value for Devaraj Nagar Ponnaiah Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,675 per sq.ft. The value remained at Rs 2,500 per sq.ft until the 2023 revision, which increased it to Rs 2,500 per sq.ft. The latest revision in 2024 has raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Devaraj Nagar Ponnaiah Street is above this median.

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

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

Which Sub Registrar Office covers Devaraj Nagar Ponnaiah Street?

The Sub Registrar Office that covers Devaraj Nagar Ponnaiah 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 the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal value of the property, which can influence negotiations and the final sale price. It is essential to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Devaraj Nagar Ponnaiah Street?

The current guideline value of Devaraj Nagar Ponnaiah 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 has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, with various revisions in between, including a notable increase of 49% from 2017 to 2023.

What is the land classification for Devaraj Nagar Ponnaiah Street?

Devaraj Nagar Ponnaiah Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this street?

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

How is stamp duty calculated on properties in Madambakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the government receives the appropriate fees during the registration process.