Guideline Value for Devaraj Pillai Nagar

Devaraj Pillai Nagar guideline value

The current guideline value of Devaraj Pillai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Devaraj Pillai Nagar has changed

The guideline value for Devaraj Pillai Nagar has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value saw a significant increase to Rs 1,000 per sq.ft in 2023 and further rose by 10% to the current value of Rs 1,100 per sq.ft in 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Devaraj Pillai Nagar's 2024 figure below this median.

• Devaraj Pillai Cross St: Rs 1,100 per sq.ft (2024)
• Devaki Nagar: Rs 1,100 per sq.ft (2024)
• Darma Thottam Erikarai Street: Rs 1,650 per sq.ft (2024)
• Darma Thottam 3rd Street: Rs 2,200 per sq.ft (2024)
• Darma Thottam 2nd Street (Bharathidasan Street): Rs 2,530 per sq.ft (2024)
• Darma Thottam 1st Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Pillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers Devaraj Pillai Nagar?

The Sub Registrar Office that covers Devaraj Pillai Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Devaraj Pillai Nagar?

The current guideline value of Devaraj Pillai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What are the stamp duty rates for property in Devaraj Pillai Nagar?

The stamp duty for property in Devaraj Pillai Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Devaraj Pillai Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the median guideline value for streets in Irumpuliyur?

The median guideline value for streets in Irumpuliyur is Rs 2,200 per sq.ft, with Devaraj Pillai Nagar's current value being below this median.