Guideline Value for Devaraj Pillai Street

Devaraj Pillai Street guideline value

The current guideline value of Devaraj Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - II.

How the guideline value of Devaraj Pillai Street has changed

The guideline value for Devaraj Pillai Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 229 per sq.ft. This increased to Rs 282 per sq.ft in 2003, marking a change of +23%. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of +42%. Following this, the guideline value saw a dramatic rise to Rs 4,000 per sq.ft in 2012, which was a staggering +900% increase. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of -33%. The value then increased again to Rs 4,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 4,400 per sq.ft in 2024, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +1821%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Devaraj Pillai Street's 2024 figure above this median.

• Devaraj Pillai cross Street: Rs 3,300 per sq.ft (2024)
• Devasahayam Nagar: Rs 880 per sq.ft (2024)
• Devasahayam Street: Rs 880 per sq.ft (2024)
• Dhanabal Street: Rs 2,200 per sq.ft (2024)
• Deivanagar Main Road: Rs 3,300 per sq.ft (2024)
• Deivanagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaraj Pillai Street?

The Sub Registrar Office that covers Devaraj Pillai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Tambaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions and is used to calculate the applicable taxes during the registration process.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. The guideline value serves as a benchmark for assessing property prices and ensuring that transactions are conducted fairly.

Frequently asked questions

What is the current guideline value of Devaraj Pillai Street?

The current guideline value of Devaraj Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 229 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1821%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Devaraj Pillai Street?

The Tambaram Joint 1 Sub Registrar Office covers Devaraj Pillai Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

Where can I find the guideline values for other streets in Tambaram?

You can find the guideline values for other streets in Tambaram by visiting the relevant links provided for each street, which detail their respective rates per sq.ft for 2024.