Guideline Value for Sri Devi Nagar 3rd Street

Sri Devi Nagar 3rd Street guideline value

The current guideline value of Sri Devi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 3rd Street has changed

The guideline value for Sri Devi Nagar 3rd Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 354 per sq.ft. It increased to Rs 388 per sq.ft in 2003, marking a change of +10%. The value then rose to Rs 500 per sq.ft in 2007, reflecting a significant increase of +29%. The next revision in 2012 saw the value drop to Rs 3,000 per sq.ft, a decrease of -33%. In 2017, the guideline value was revised to Rs 2,010 per sq.ft, which represented a +49% increase from 2012. The most recent revisions occurred in 2023 and 2024, with the value increasing from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a change of +10%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, there has been an increase of +832% in the guideline value.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, making the guideline value of Sri Devi Nagar 3rd Street above the median.

• Sri Devi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 10th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Nagar 3rd Street?

The Sri Devi Nagar 3rd Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The guideline value is set by the government and is regularly revised to reflect changes in the market.

When you register a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 3rd Street?

The current guideline value of Sri Devi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 354 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +832% over the years.

What is the land classification for Sri Devi Nagar 3rd Street?

Sri Devi Nagar 3rd Street is classified as Residential Class II Type - I. This classification determines the usage and development regulations for properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at the rate of 7%.

Where can I find the Sub Registrar Office for Sri Devi Nagar 3rd Street?

The Sub Registrar Office covering Sri Devi Nagar 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.