Guideline Value for Devarajan Street (JPT)

Devarajan Street (JPT) guideline value

The current guideline value for Devarajan Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it is classified as Residential Class IV Type - I.

How the guideline value of Devarajan Street (JPT) has changed

The guideline value for Devarajan Street (JPT) has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, a 49% increase, before reaching the current value of Rs 4,100 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that the register has no figures for Devarajan Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Devarajan Street's 2024 figure below that median.

• Devanathan Colony (W.M): Rs 4,900 per sq.ft (2024)
• Devaraj Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Desikar Street (Block 5): Rs 6,000 per sq.ft (2024)
• Deivanambi Street (Puranagar): Rs 4,100 per sq.ft (2024)
• Deivanambi Street (Nagaram): Rs 4,100 per sq.ft (2024)
• Dhamodharan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan Street (JPT)

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devarajan Street (JPT)?

The Sub Registrar Office that covers Devarajan Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are applied, safeguarding the interests of both the buyer and the government. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Devarajan Street (JPT)?

The current guideline value of Devarajan Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, which is an overall increase of 413%.

What is the land classification for Devarajan Street (JPT)?

Devarajan Street (JPT) is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office located for Devarajan Street (JPT)?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated on properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be calculated at 7% of that amount.