Guideline Value for Devaraj sarang lane

Devaraj sarang lane guideline value

The current guideline value of Devaraj sarang lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class III Type - I.

How the guideline value of Devaraj sarang lane has changed

The guideline value for Devaraj sarang lane has seen 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, it then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft following a 10% increase in the 2024 revision.

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 Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which matches the current guideline value of Devaraj sarang lane.

• Dams Road: Rs 11,000 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)
• Cox street: Rs 2,900 per sq.ft (2024)
• Cox colony: Rs 2,900 per sq.ft (2024)
• Coovum River Road: Rs 3,200 per sq.ft (2024)
• Dr.Govindan street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraj sarang lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 sarang lane?

The Sub Registrar Office that covers Devaraj sarang lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chindadripet. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Devaraj sarang lane?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 600 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450%.

What are the other streets in Chindadripet with their guideline values?

Other streets in Chindadripet include Dams Road at Rs 11,000 per sq.ft, Dharmaraja koil street at Rs 5,500 per sq.ft, and several others with varying rates.

What is the registration fee for property in Devaraj sarang lane?

The registration fee is calculated based on the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000 at a rate of 2%.

Which office handles the registration of properties in Devaraj sarang lane?

The registration of properties in Devaraj sarang lane is handled by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.