Guideline Value for Devarajalu Naidu Lane

Devarajalu Naidu Lane guideline value

The current guideline value of Devarajalu Naidu Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Devarajalu Naidu Lane has changed

The guideline value for Devarajalu Naidu Lane has seen significant changes over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012, marking a rise of 350%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value continued to rise again, reaching Rs 4,500 per sq.ft in 2023, and finally settling at Rs 4,900 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

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 390%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is the same as the current guideline value for Devarajalu Naidu Lane.

• Devarajalu Naidu Street: Rs 4,900 per sq.ft (2024)
• Dewan Bahadhur Shanmugam Street: Rs 4,900 per sq.ft (2024)
• Col. Sridhar Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Chittam Krishnasamy Naidu Lane & Street: Rs 4,400 per sq.ft (2024)
• Chitaranjan Nagar, Chennai 82: Rs 4,400 per sq.ft (2024)
• Chitaranjan Colony, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajalu Naidu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total cost to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devarajalu Naidu Lane?

The Sub Registrar Office that covers Devarajalu Naidu Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which is essential for both the buyer and seller. This value helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Devarajalu Naidu Lane?

The current guideline value of Devarajalu Naidu Lane is Rs 4,900 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 1,000 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 390%.

What is the land classification for Devarajalu Naidu Lane?

Devarajalu Naidu Lane is classified as Residential Class I Type - III, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for buying property here?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office should I visit for registration in Ayanavaram?

The AnnaNagar Sub Registrar Office is responsible for registration in Ayanavaram. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.