Guideline Value for Devi Street

Devi Street guideline value

The current guideline value of Devi Street in Menambedu village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class III Type - I.

How the guideline value of Devi Street has changed

The guideline value for Devi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2024 revision. Between 2012 and 2017, the value decreased to Rs 670 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 1,000 per sq.ft. The 2023 to 2024 revision showed no change, with the value remaining at Rs 1,000 per sq.ft.

It is important to note that there are no registered figures for Devi Street in the years 2002, 2003, and 2007. The guideline value has remained stable overall from 2012 to 2024, with the current value aligning with the figures from 2012 and 2023.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Devi Street's 2024 figure is below this median.

• Devi Karumariamman Street: Rs 1,002 per sq.ft (2024)
• Devar Street (Gnanamoorthy Nagar): Rs 1,700 per sq.ft (2024)
• Devar Street (Arumuganagar): Rs 1,700 per sq.ft (2024)
• Devan Street: Rs 1,700 per sq.ft (2024)
• Devagi Street: Rs 1,000 per sq.ft (2024)
• DABC Layout: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. 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 information.

Which Sub Registrar Office covers Devi Street?

The Sub Registrar Office that covers Devi Street 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 more details.

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

The guideline value is a crucial factor during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Devi Street?

The current guideline value of Devi Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Devi Street has seen several revisions, with the most recent being Rs 1,000 per sq.ft in 2024. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification for Devi Street?

Devi Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the guideline value of Rs 1,000 per sq.ft, the total stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

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

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