Guideline Value for Sri Devi Nagar 6th Street

Sri Devi Nagar 6th Street guideline value

The current guideline value of Sri Devi Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 6th Street has changed

The guideline value for Sri Devi Nagar 6th Street has undergone several revisions over the years. Starting from Rs 354 per sq.ft in 2002, it increased to Rs 388 per sq.ft in 2003, marking a rise of 10%. In 2007, the value saw a significant jump to Rs 500 per sq.ft, an increase of 29%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial increase of 500%. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, followed by the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 832%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values 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, placing Sri Devi Nagar 6th Street's 2024 figure above this median.

• Sri Devi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that 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 6th Street?

The Sri Devi Nagar 6th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional assistance.

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

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

When a property is sold, 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 government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 6th Street?

The current guideline value of Sri Devi Nagar 6th 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 from Rs 354 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an increase of 832% over this period.

What is the land classification for Sri Devi Nagar 6th Street?

Sri Devi Nagar 6th Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office covering Sri Devi Nagar 6th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. The current rates are 7% for stamp duty and 2% for the registration fee.