Guideline Value for Devaraj Nagar

Devaraj Nagar guideline value

The current guideline value of Devaraj Nagar in Nandhivaram village is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Devaraj Nagar has changed

The guideline value for Devaraj Nagar has seen several revisions over the years. Starting from Rs 100 per sq.ft in 2002, it increased significantly to Rs 328 per sq.ft in 2007, marking a growth of 228%. The value then rose to Rs 1,200 per sq.ft in 2012, reflecting a substantial increase of 266%. However, it decreased to Rs 804 per sq.ft in 2017, which was a decline of 33%. From 2017 to 2023, the value remained stable at Rs 1,200 per sq.ft, and it has not changed from 2023 to 2024, maintaining the same rate.

There is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1100%, reaching the current rate of Rs 1,200 per sq.ft.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Devaraj Nagar's current figure below that median.

• Defence Colony 9th Cross Street: Rs 1,500 per sq.ft (2024)
• Defence Colony 3rd Cross Street: Rs 1,500 per sq.ft (2024)
• Defence Colony 1to 8 Streets: Rs 1,500 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,200 per sq.ft (2024)
• Dhanalakshmi Nagar Extn.: Rs 1,200 per sq.ft (2024)
• Dharman Nagar: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty, calculated at 7%, would be Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total cost to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Devaraj Nagar?

The Sub Registrar Office that covers Devaraj Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives appropriate revenue based on the property's assessed value.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are prepared to cover the necessary fees based on this value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Devaraj Nagar?

The current guideline value of Devaraj Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with various increases and decreases over the years. Notably, it has increased by 1100% from 2002 to 2024.

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

The Sub Registrar Office for Devaraj Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvanchery-603202.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 12,00,000, the total fees would be Rs 1,08,000.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the fees are based on the assessed value of the property, facilitating a fair registration process.