Guideline Value for Devi Nagar 3rd Street

Devi Nagar 3rd Street guideline value

The current guideline value of Devi Nagar 3rd 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, classified as Mixed Special Type - I.

How the guideline value of Devi Nagar 3rd Street has changed

The guideline value for Devi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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 value for these streets is Rs 1,540 per sq.ft, placing the guideline value of Devi Nagar 3rd Street above this median.

• Devi Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Devi Nagar 4th Street: Rs 2,420 per sq.ft (2024)
• Devi Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost for stamp duty and registration would be Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Nagar 3rd Street?

The Sub Registrar Office that covers Devi Nagar 3rd 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 is a critical factor in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devi Nagar 3rd Street?

The current guideline value of Devi Nagar 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Devi Nagar 3rd Street?

Devi Nagar 3rd Street is classified as Mixed Special Type - I, which is important for understanding the type of developments allowed in the area.

What are the registration fees for property transactions?

For a property valued at the guideline value of Rs 2,420 per sq.ft, the registration fees would be calculated based on the total value of the property. The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Devi Nagar 3rd Street?

The Sub Registrar Office for Devi Nagar 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registrations for properties in the area.