Guideline Value for Devendra Nagar

Devendra Nagar guideline value

The current guideline value of Devendra Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - I land classification.

How the guideline value of Devendra Nagar has changed

The guideline value for Devendra Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 75 per sq.ft, which increased dramatically to Rs 900 per sq.ft in 2012, marking a rise of 1,100%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The value then rose to Rs 900 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,220%.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this village is Rs 880 per sq.ft, positioning Devendra Nagar's 2024 figure above that median.

• Devendira Nagar: Rs 990 per sq.ft (2024)
• Devendra Nagar Extension: Rs 990 per sq.ft (2024)
• Dharmaraja Nagar: Rs 770 per sq.ft (2024)
• Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Gandhi Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Devendra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to 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 Devendra Nagar?

The Sub Registrar Office covering Devendra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial reference point during property transactions in Nandambakkam. It is used to determine the stamp duty and registration fees that need to be paid when registering a property sale or purchase.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the current market conditions as set by the Registration Department. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Devendra Nagar?

The current guideline value of Devendra Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased since 2007?

Since 2007, the guideline value has increased by 1,220%, from Rs 75 per sq.ft to Rs 990 per sq.ft in 2024.

What were the guideline values in previous years?

The guideline values for Devendra Nagar were Rs 75 per sq.ft in 2007, Rs 900 per sq.ft in 2012, Rs 603 per sq.ft in 2017, and Rs 900 per sq.ft in 2023.

Where can I find the registration office for Devendra Nagar?

The registration office for Devendra Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Devendra Nagar?

Stamp duty for property in Devendra Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the stamp duty would be Rs 69,300.