Guideline Value for Devaraj Nagar Sheela Rajarathinam Street

Devaraj Nagar Sheela Rajarathinam Street guideline value

The current guideline value of Devaraj Nagar Sheela Rajarathinam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street 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 Sheela Rajarathinam Street has changed

The guideline value for Devaraj Nagar Sheela Rajarathinam Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose again to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a notable decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, which means that the guideline value for Devaraj Nagar Sheela Rajarathinam Street is above the median.

• Devaraj Nagar Ponnaiah 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 Sheela Rajarathinam 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 is charged at 7%, which totals Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Therefore, the total cost for stamp duty and registration fee together is Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devaraj Nagar Sheela Rajarathinam Street?

The Devaraj Nagar Sheela Rajarathinam Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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 minimum price at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Proper understanding of the guideline value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Devaraj Nagar Sheela Rajarathinam Street?

The current guideline value of Devaraj Nagar Sheela Rajarathinam 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 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Devaraj Nagar Sheela Rajarathinam Street is Commercial Class I Type - I.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Devaraj Nagar Sheela Rajarathinam Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.