Guideline Value for Devaraj Nagar

Devaraj Nagar guideline value

The current guideline value of Devaraj Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Devaraj Nagar has changed

The guideline value for Devaraj Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase of 8% from the previous year's figure of Rs 1,200 per sq.ft established in 2023. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there is no available data for the guideline value of Devaraj Nagar in the years mentioned. The consistent updates reflect the evolving nature of property values in the region.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Devaraj Nagar's 2024 figure is below this median.

• Devaraj 2nd Street (Ward 11): Rs 1,300 per sq.ft (2024)
• Devaraj 1st Street (Ward 11): Rs 1,300 per sq.ft (2024)
• Devaraj Nagar (Ward-11): Rs 1,300 per sq.ft (2024)
• Devaki Nagar Ring Road Part-I: Rs 3,250 per sq.ft (2024)
• Devaki Nagar Ring Road: Rs 3,250 per sq.ft (2024)
• Devaki Nagar (Ponniamman Medu) (Ward-24): Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Devaraj Nagar?

The Sub Registrar Office that covers Devaraj Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

Frequently asked questions

What is the current guideline value of Devaraj Nagar?

The current guideline value of Devaraj Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Devaraj Nagar has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft for the year 2024. Devaraj Nagar's current value is below this median.

What are the stamp duty and registration fees for properties in Devaraj Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. 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?

The Sub Registrar Office for Devaraj Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.