Guideline Value for SRI DEVI NAGAR

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar, located in Nemilancheri village under the Avadi SRO, is Rs 660 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Devi Nagar has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure dropped to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 660 per sq.ft, which is a 10% increase from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for Sri Devi Nagar. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Nemilancheri

In Nemilancheri, there are 15 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 1,870 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Sri Devi Nagar is below this median.

• Sri Devi Nagar Annexe: Rs 660 per sq.ft (2024)
• Srinath Nagar: Rs 1,300 per sq.ft (2024)
• Srinath Nagar Extension II: Rs 1,100 per sq.ft (2024)
• Sri Vignesh Nagar: Rs 990 per sq.ft (2024)
• P Dot G Flora: Rs 1,300 per sq.ft (2024)
• Padmavathi Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. Stamp duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Devi Nagar?

Sri Devi Nagar falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Nemilancheri. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price, which influences the overall cost of property transactions.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 660 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

For a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Sri Devi Nagar?

Sri Devi Nagar is covered by the Avadi Sub Registrar Office located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai.

What is the land classification of Sri Devi Nagar?

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