Guideline Value for Devi Nagar

Devi Nagar guideline value

The current guideline value of Devi Nagar, located in Pullilyon village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III 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 2003, it was Rs 23 per sq.ft, and it rose to Rs 200 per sq.ft by 2007, marking a substantial increase of 770%. The value then increased to Rs 400 per sq.ft in 2012, representing a 100% rise from the previous figure. However, it dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The value then increased again to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1813%. It is important to note that the register has no figure for Devi Nagar for the year 2002.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. Devi Nagar's current guideline value is below this median.

• Dhargas Road: Rs 550 per sq.ft (2024)
• C.R.P. Nagar: Rs 770 per sq.ft (2024)
• Bye Pass Road: Rs 2,200 per sq.ft (2024)
• Bhathrakaliamman Nagar: Rs 770 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 770 per sq.ft (2024)
• Gopal Nagar: Rs 770 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 440 per sq.ft, the guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the 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?

Devi Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pullilyon. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property transaction occurs, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of Devi Nagar?

The current guideline value of Devi Nagar is Rs 440 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 23 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, with various fluctuations in between.

What is the registration office for Devi Nagar?

The Redhills Sub Registrar Office covers Devi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Devi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at the rate of 7%.

What are the guideline values of other streets in Pullilyon?

Other streets in Pullilyon have varying guideline values, with rates ranging from Rs 440 to Rs 2,200 per sq.ft. For instance, Dhargas Road has a guideline value of Rs 550 per sq.ft, while Bye Pass Road has the highest at Rs 2,200 per sq.ft.