Guideline Value for Sri Devi Nagar 9th Street

Sri Devi Nagar 9th Street guideline value

The current guideline value of Sri Devi Nagar 9th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 9th Street has changed

Over the years, the guideline value of Sri Devi Nagar 9th Street has seen significant changes. In 2002, the value was Rs 354 per sq.ft, which increased to Rs 388 per sq.ft in 2003. By 2007, the value rose dramatically to Rs 500 per sq.ft, and in 2012, it was recorded at Rs 3,000 per sq.ft. The value then decreased to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft. There are no figures available for the years not mentioned in this register.

The changes between these revisions highlight the fluctuations in the guideline value. From 2002 to 2003, the increase was +10%. The value surged by +29% from 2003 to 2007 and then saw a massive +500% rise from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. Following this, the value increased by +49% from 2017 to 2023, and the most recent increase from 2023 to 2024 was +10%. Overall, from 2002 to 2024, the guideline value has increased by +832%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Sri Devi Nagar 9th Street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Sri Devi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sri Devi Nagar 4th 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 9th 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, bringing the total charges to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Nagar 9th Street?

The Sub Registrar Office that covers Sri Devi Nagar 9th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain accurate records of property values in the area.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 9th Street?

The current guideline value of Sri Devi Nagar 9th 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%.

What is the land classification of Sri Devi Nagar 9th Street?

Sri Devi Nagar 9th Street is classified as Residential Class II Type - I.

How is stamp duty calculated for properties in Sri Devi Nagar 9th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Sri Devi Nagar 9th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.