Guideline Value for Devi Nagar

Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 440 per sq.ft. This increased to Rs 580 per sq.ft in 2003, marking a 32% rise. The value continued to grow, reaching Rs 1,000 per sq.ft in 2007, a substantial increase of 72%. However, between 2007 and 2012, the value decreased to Rs 3,600 per sq.ft, reflecting a decline of 33%. The value remained the same in 2012 but rose to Rs 2,412 per sq.ft in 2017, which was a 49% increase. The guideline value then increased to Rs 3,600 per sq.ft in 2023, before reaching the current rate of Rs 3,960 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 800%. There are no figures available for the revisions in the years not listed above for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is equal to the current guideline value of Devi Nagar.

• Diraviam Nagar: Rs 3,520 per sq.ft (2024)
• Diraviam Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Diraviam Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• C.S.I. church Road: Rs 3,960 per sq.ft (2024)
• Duraiswamy Nagar: Rs 3,520 per sq.ft (2024)
• Duraiswamy Nagar 1st Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total cost would be Rs 3,56,400. 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 Devi Nagar?

The Sub Registrar Office that covers Devi Nagar 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 Porur

The guideline value is a crucial factor when buying or selling property in Porur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction process.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the property is not undervalued, thereby protecting the interests of the state and ensuring fair revenue collection. It is important for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 440 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 800% over the years.

What is the land classification for Devi Nagar?

The land classification for Devi Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Devi Nagar?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200, and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office covers Devi Nagar?

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