Guideline Value for Devarajan Street

Devarajan Street guideline value

The current guideline value of Devarajan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Devarajan Street has changed

The guideline value for Devarajan Street has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft. This decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Devarajan Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Devarajan Street's 2024 value below this median.

• Devika Nagar: Rs 1,990 per sq.ft (2024)
• Devi Karumari Amman Nagar: Rs 2,310 per sq.ft (2024)
• Desamuthiyamman Koil Street: Rs 1,650 per sq.ft (2024)
• David Nagar: Rs 3,960 per sq.ft (2024)
• Corner Street Extn: Rs 1,980 per sq.ft (2024)
• Corner Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Devarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total charges would be Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devarajan Street?

The Sub Registrar Office that covers Devarajan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. The guideline value helps in establishing a fair basis for the transaction, ensuring that all parties are aware of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Devarajan Street?

The current guideline value of Devarajan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Devarajan Street?

Devarajan Street is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in Devarajan Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Devarajan Street?

The registrations for Devarajan Street are handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.