Guideline Value for Devarajan Street/ Central Bank Colony

Devarajan Street/ Central Bank Colony guideline value

The current guideline value for Devarajan Street/ Central Bank Colony is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Devarajan Street/ Central Bank Colony has changed

The guideline value for Devarajan Street/ Central Bank Colony has seen significant changes over the years. In 2002, the guideline value was Rs 146 per sq.ft, which increased to Rs 239 per sq.ft in 2003, marking a 64% rise. The value continued to rise to Rs 360 per sq.ft in 2007, representing a 51% increase from the previous revision. By 2017, the value had surged to Rs 1,206 per sq.ft, a remarkable 235% increase from 2007. The 2023 revision set the value at Rs 1,800 per sq.ft, reflecting a 49% increase from 2017. The current value of Rs 1,980 per sq.ft from the 2024 revision shows a 10% increase from 2023.

It is important to note that there is no figure available for Devarajan Street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1256%.

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 for these streets is Rs 2,090 per sq.ft, indicating that Devarajan Street/ Central Bank Colony's 2024 figure is below the median.

• Devarajan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Devarajan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Devarajan Street / VOC Nagar: Rs 2,750 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/ Central Bank Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Devarajan Street/ Central Bank Colony?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This system helps maintain transparency in property transactions and ensures that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Devarajan Street/ Central Bank Colony?

The current guideline value for Devarajan Street/ Central Bank Colony is Rs 1,980 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 146 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 1256% over the years.

What is the land classification for Devarajan Street/ Central Bank Colony?

Devarajan Street/ Central Bank Colony is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Devarajan Street/ Central Bank Colony?

The Sub Registrar Office for Devarajan Street/ Central Bank Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 19,80,000, the stamp duty would be calculated at 7% of that amount.