Guideline Value for Devikarumariamman Nagar 1st Cross Street

Devikarumariamman Nagar 1st Cross Street guideline value

The current guideline value of Devikarumariamman Nagar 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Devikarumariamman Nagar 1st Cross Street has changed

The guideline value for Devikarumariamman Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 1,800 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 27%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Devikarumariamman Nagar 1st Cross Street is below this median.

• Devikarumariamman Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar 3rd Cross Street: Rs 1,900 per sq.ft (2024)
• Devikarumariamman Nagar Main Road: Rs 1,900 per sq.ft (2024)
• Dhanammal Nagar: Rs 1,900 per sq.ft (2024)
• Dharmalingam Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Chokkammal Thottam: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Devikarumariamman Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 19,00,000. The stamp duty is calculated at 7%, totaling Rs 1,33,000, while the registration fee at 2% amounts to Rs 38,000. The total cost for these fees together is Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devikarumariamman Nagar 1st Cross Street?

The Sub Registrar Office that covers Devikarumariamman Nagar 1st Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

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

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is based on a standardized value set by the authorities.

Frequently asked questions

What is the current guideline value of Devikarumariamman Nagar 1st Cross Street?

The current guideline value of Devikarumariamman Nagar 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Devikarumariamman Nagar 1st Cross Street?

The land classification for Devikarumariamman Nagar 1st Cross Street is Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000 and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office, which covers Devikarumariamman Nagar 1st Cross Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.