Guideline Value for Devasahayam Nagar

Devasahayam Nagar guideline value

The current guideline value of Devasahayam Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Devasahayam Nagar has changed

The guideline value for Devasahayam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased to Rs 800 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the 2024 figure for Devasahayam Nagar below the median.

• Devasahayam Street: Rs 880 per sq.ft (2024)
• Devaraj Pillai Street: Rs 4,400 per sq.ft (2024)
• Devaraj Pillai cross Street: Rs 3,300 per sq.ft (2024)
• Dhanabal Street: Rs 2,200 per sq.ft (2024)
• Deivanagar Main Road: Rs 3,300 per sq.ft (2024)
• Deivanagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devasahayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, resulting in a total of Rs 79,200. Please note that 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 more details.

Which Sub Registrar Office covers Devasahayam Nagar?

The Sub Registrar Office covering Devasahayam Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Devasahayam Nagar?

The current guideline value of Devasahayam Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the stamp duty and registration fees in Devasahayam Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,80,000, the total fees would amount to Rs 79,200.

Which office do I need to visit for property registration in Devasahayam Nagar?

The Tambaram Joint 1 Sub Registrar Office is responsible for property registrations in Devasahayam Nagar. It is located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are based on an official valuation of the property, which is crucial for the registration process.