Guideline Value for Devaraj Street

Devaraj Street guideline value

The current guideline value of Devaraj Street in Anakaputhur village is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Devaraj Street has changed

The guideline value for Devaraj Street has seen significant changes over the years. In 2003, the value was Rs 123 per sq.ft, which increased to Rs 140 per sq.ft in 2007, marking a 14% rise. By 2017, the value surged to Rs 1,072 per sq.ft, reflecting a substantial increase of 666%. The 2023 revision set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has raised the value to Rs 1,760 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1331%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO, with guideline values ranging from Rs 1,320 to Rs 4,640 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,980 per sq.ft, placing Devaraj Street's 2024 value below this median.

• Devarj Nagar Extn.,: Rs 1,980 per sq.ft (2024)
• Devaraj Nagar Pandiyan Street: Rs 1,980 per sq.ft (2024)
• Devaraj Nagar Extension 3rd Street: Rs 1,980 per sq.ft (2024)
• Devaraj Nagar Extension 2nd Street: Rs 1,980 per sq.ft (2024)
• Devaraj Nagar Extension 1st Street: Rs 1,980 per sq.ft (2024)
• Devaraj Nagar Arunagiri Nathar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaraj Street?

The Sub Registrar Office that covers Devaraj Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Anakaputhur

The guideline value plays a crucial role during the registration of property transactions in Anakaputhur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction. This ensures transparency and helps in maintaining a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of Devaraj Street?

The current guideline value of Devaraj Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 123 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1331% over the years.

What is the land classification for Devaraj Street?

Devaraj Street is classified as Residential Class II Type - I, indicating its use for residential purposes.

How does the guideline value compare with other streets in Anakaputhur?

The guideline value of Devaraj Street at Rs 1,760 per sq.ft is below the median value of Rs 1,980 per sq.ft for other streets in Anakaputhur.

What fees are involved in registering a property in Devaraj Street?

When registering a property on Devaraj Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.