Guideline Value for Devaraja Puram

Devaraja Puram guideline value

The current guideline value of Devaraja Puram, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Devaraja Puram has changed

The guideline value for Devaraja Puram has seen several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft, which increased to Rs 475 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision.

The changes between these revisions reflect a notable fluctuation in the guideline value. From 2017 to 2023, there was a significant increase of 49%. The most substantial rise occurred from 2007 to 2012, with a remarkable increase of 289%. Overall, from 2002 to 2024, the guideline value has increased by 1553%.

Guideline values in Adambakkam

In Adambakkam village, there are 569 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which matches the current value for Devaraja Puram.

• Dhamodaran Street: Rs 2,800 per sq.ft (2024)
• Daniel Street: Rs 3,900 per sq.ft (2024)
• Co-operative Nagar: Rs 5,000 per sq.ft (2024)
• Citylink Road: Rs 5,500 per sq.ft (2024)
• Chidambaranar Street: Rs 3,900 per sq.ft (2024)
• Chidambaranar 2nd Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Devaraja Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devaraja Puram?

The Sub Registrar Office that covers Devaraja Puram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is documented at a value that reflects the current market conditions, as set by the government.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Devaraja Puram?

The current guideline value of Devaraja Puram is Rs 3,900 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 236 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1553% over this period.

What is the land classification for Devaraja Puram?

Devaraja Puram is classified as Residential Class I Type - III under the current land classification system.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Devaraja Puram?

The Sub Registrar Office for Devaraja Puram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.