Guideline Value for Divya Nagar

Divya Nagar guideline value

The current guideline value of Divya Nagar, located in Sundaracholavaram village under the Kunrathur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Divya Nagar has changed

The guideline value for Divya Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, followed by a decrease to Rs 536 per sq.ft in 2017. The value then rose to Rs 800 per sq.ft in 2023, before reaching the current value of Rs 880 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 167%, but then decreased by 33% from 2012 to 2017. After that, there was a substantial increase of 49% from 2017 to 2023, and a further rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Divya Nagar's current guideline value above this median.

• Devi Karumariyamman Nagar: Rs 550 per sq.ft (2024)
• Chakreswari Nagar Extension: Rs 880 per sq.ft (2024)
• Chakareswari Nagar Annexe: Rs 1,065 per sq.ft (2024)
• Gold Mine By Urban Tree: Rs 3,610 per sq.ft (2024)
• Gold Mine By Urban Tree Phase-II: Rs 4,070 per sq.ft (2024)
• Gramani Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Divya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Divya Nagar?

Divya Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, thereby affecting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Divya Nagar?

The current guideline value of Divya Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with various increments and decrements over the years.

What is the median guideline value in Sundaracholavaram?

The median guideline value in Sundaracholavaram is Rs 660 per sq.ft, with Divya Nagar's current value being above this median.

What fees are applicable when registering property in Divya Nagar?

When registering property in Divya Nagar, the stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Divya Nagar?

The Sub Registrar Office covering Divya Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information by visiting the provided link.