Guideline Value for Devi Nagar

Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Devi Nagar has changed

The guideline value of Devi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 44 per sq.ft, which increased to Rs 65 per sq.ft in 2003, marking a rise of 48%. The value then surged to Rs 400 per sq.ft in 2007, a remarkable increase of 515%. Following this, the 2012 revision set the value at Rs 1,000 per sq.ft, reflecting a 150% increase from the previous revision. However, the value decreased by 33% to Rs 670 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,000 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,100 per sq.ft, a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2400%. The register has no figures for any years other than those listed.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. Devi Nagar's 2024 figure is below this median.

• Dharma Nagar: Rs 990 per sq.ft (2024)
• Dharma Nagar 1st street: Rs 990 per sq.ft (2024)
• Dharma Nagar 2nd street: Rs 990 per sq.ft (2024)
• Dobi Street: Rs 1,300 per sq.ft (2024)
• Church Street: Rs 1,100 per sq.ft (2024)
• Church Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devi Nagar?

The Sub Registrar Office that covers Devi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further inquiries.

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

The guideline value is a crucial factor during the registration of property in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

When purchasing property, it is essential to consider the guideline value as it affects the overall cost of the transaction. The registration authorities use this value to assess the appropriate fees, which can vary based on the property's location and classification.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 44 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, showing a significant rise over the years.

What is the land classification of Devi Nagar?

Devi Nagar falls under the Residential Class I Type - II land classification.

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

The Sub Registrar Office for Devi Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Devi Nagar?

Stamp duty 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000.