Guideline Value for Devarajan Street / VOC Nagar

Devarajan Street / VOC Nagar guideline value

The current guideline value of Devarajan Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Devarajan Street / VOC Nagar has changed

The guideline value for Devarajan Street / VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 201 per sq.ft, which increased to Rs 228 per sq.ft in 2003, marking a 13% rise. By 2007, it had further increased to Rs 360 per sq.ft, showing a 58% change. The 2017 revision saw a dramatic jump to Rs 1,675 per sq.ft, reflecting a 365% increase. However, there is no figure for this street in the 2012 revision.

In 2023, the guideline value was Rs 2,500 per sq.ft, and it increased by 10% to reach the current value of Rs 2,750 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1268%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in the village is Rs 2,090 per sq.ft, positioning Devarajan Street / VOC Nagar above this median.

• Devarajan Street /Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devarajan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Devarajan Street/ Central Bank Colony: Rs 1,980 per sq.ft (2024)
• Devadas Street /Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Devadas Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devadas Street /Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan Street / VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Devarajan Street / VOC Nagar?

The Sub Registrar Office that covers Devarajan Street / VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Pammal, the guideline value is a critical factor in determining the stamp duty and registration fees. It serves as a benchmark for the value of the property, ensuring that the fees are calculated based on a standardized assessment rather than the sale price alone.

This guideline value is updated periodically, reflecting changes in the real estate market and local conditions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to accurately assess the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Devarajan Street / VOC Nagar?

The current guideline value of Devarajan Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 201 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1268%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Devarajan Street / VOC Nagar?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone, is responsible for this area.

What is the land classification of Devarajan Street / VOC Nagar?

Devarajan Street / VOC Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.