Guideline Value for Devaraj Pillai cross Street

Devaraj Pillai cross Street guideline value

The current guideline value of Devaraj Pillai cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Devaraj Pillai cross Street has changed

The guideline value for Devaraj Pillai cross Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

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 450%.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 guideline value of Devaraj Pillai cross Street.

• Devaraj Pillai Street: Rs 4,400 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 cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devaraj Pillai cross Street?

The Sub Registrar Office that covers Devaraj Pillai cross 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

The guideline value is a crucial factor in property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devaraj Pillai cross Street?

The current guideline value of Devaraj Pillai cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the registration office for Devaraj Pillai cross Street?

The registration office for Devaraj Pillai cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Tambaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.

What is the land classification for Devaraj Pillai cross Street?

Devaraj Pillai cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.