Guideline Value for Devaraj Nagar

Devaraj Nagar guideline value

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

How the guideline value of Devaraj Nagar has changed

Looking at the historical revisions, the guideline value for Devaraj Nagar was Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. There were no figures available for the years 2002, 2003, 2007, and 2017 for this street. The most recent revision in 2024 shows an increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The value remained stable between 2012 and 2023, with no change recorded during that period.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Devaraj Nagar's 2024 figure above this median.

• Devaraj Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Devaraj Nagar 2nd Street: Rs 2,750 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 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, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that 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?

The Sub Registrar Office that covers Devaraj Nagar 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 plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate applicable fees, including stamp duty and registration fees. This ensures that both parties in the transaction are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Devaraj Nagar?

The current guideline value of Devaraj Nagar 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 and 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

What is the land classification for Devaraj Nagar?

Devaraj Nagar falls under the Commercial Class I Type - I land classification.

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

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

Where is the Sub Registrar Office for Devaraj Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (Opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.