Guideline Value for Devi Nagar

Devi Nagar guideline value

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

How the guideline value of Devi Nagar has changed

The guideline value for Devi Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,100 per sq.ft. In the latest 2024 revision, the guideline value remains at Rs 1,100 per sq.ft, indicating no change from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, reflecting the changes in the area over this period.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Devi Nagar's 2024 figure of Rs 1,100 per sq.ft is below this median.

• Devaraj Naikkar Street: Rs 1,200 per sq.ft (2024)
• Dharmaraja Street: Rs 1,100 per sq.ft (2024)
• Defence Colony: Rs 1,500 per sq.ft (2024)
• Chirpi Naagar I & II: Rs 1,500 per sq.ft (2024)
• Chellappa Colony: Rs 2,001 per sq.ft (2024)
• Ekambaram Nagar: Rs 2,001 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Nagar?

The Sub Registrar Office that covers Devi Nagar is the Gooduvancheri Sub Registrar Office, located on Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential to verify the guideline value for the specific area 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,100 per sq.ft since the 2023 revision, which was also Rs 1,100 per sq.ft. The value increased from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Devi Nagar?

Devi Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are charged based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Devi Nagar?

The Gooduvancheri Sub Registrar Office handles registrations for Devi Nagar. It is located on Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.