Guideline Value for Devi Nagar 1st Street

Devi Nagar 1st Street guideline value

The current guideline value of Devi Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Devi Nagar 1st Street has changed

The guideline value for Devi Nagar 1st Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,474 per sq.ft, which increased to Rs 2,200 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 further increased the value to Rs 2,420 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Devi Nagar 1st Street's 2024 figure above the median.

• Devi Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Devi Nagar 3rd Street: Rs 2,420 per sq.ft (2024)
• Devi Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Devi Nagar & Extensions: Rs 2,420 per sq.ft (2024)
• Dayalan Nagar: Rs 1,210 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, while the registration fee at 2% would be Rs 48,400, resulting in a total of Rs 2,17,800. 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 Devi Nagar 1st Street?

The Sub Registrar Office that covers Devi Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When you proceed with a property transaction, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Devi Nagar 1st Street?

The current guideline value of Devi Nagar 1st Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased by 64% from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft in 2024. The most recent change from 2023 to 2024 was a 10% increase.

What is the land classification of Devi Nagar 1st Street?

Devi Nagar 1st Street is classified as Mixed Special Type - I, reflecting its diverse land use and development potential.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,17,800.

Where can I find the Sub Registrar Office for Devi Nagar 1st Street?

The Kunrathur Sub Registrar Office covers Devi Nagar 1st Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.