Guideline Value for SRI DEVAKI NAGAR

Sri Devaki Nagar guideline value

The current guideline value of Sri Devaki Nagar, located in Manancheri village under the Kunrathur SRO, is Rs 2,150 per sq.ft, effective from 1 July 2024. This area falls under the Mixed Type - II land classification.

How the guideline value of Sri Devaki Nagar has changed

Over the years, the guideline value for Sri Devaki Nagar has seen several revisions. The 2017 revision set the value at Rs 1,300 per sq.ft, which increased to Rs 1,941 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 2,150 per sq.ft, reflecting an increase of 11% from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 65% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2017 figure of Rs 1,300 per sq.ft was the starting point for the subsequent increases, culminating in the current guideline value.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Sri Devaki Nagar's current figure above this median.

• Sri Guruvayurappan Nagar Extension: Rs 990 per sq.ft (2024)
• Sri Iswaryam Nagar: Rs 990 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 990 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar Extension: Rs 1,320 per sq.ft (2024)
• Srimathi Neelambal Nagar: Rs 990 per sq.ft (2024)
• Sri Vidhyalakshmi Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devaki Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Devaki Nagar?

Sri Devaki Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Manancheri. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in avoiding any legal issues and ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Devaki Nagar?

The current guideline value of Sri Devaki Nagar is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,300 per sq.ft in 2017 to Rs 2,150 per sq.ft in 2024, marking an overall increase of 65% over these years.

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

For a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500, and the registration fee would be Rs 43,000, totaling Rs 1,93,500.

Which office handles property registrations in Sri Devaki Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Devaki Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, with Sri Devaki Nagar's value exceeding this median.