Guideline Value for Sri Devi Nagar 10th Street

Sri Devi Nagar 10th Street guideline value

The current guideline value of Sri Devi Nagar 10th Street in Maduravoyal village, under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Devi Nagar 10th Street has changed

The guideline value for Sri Devi Nagar 10th Street has seen several revisions over the years. In 2002, the guideline value was Rs 354 per sq.ft. This increased to Rs 388 per sq.ft in 2003, marking a 10% rise. The value then rose by 29% to Rs 500 per sq.ft in 2007. By 2012, the value had significantly increased by 500% to Rs 3,000 per sq.ft. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The value saw a substantial increase of 49% to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in the years not mentioned in the register for this street. The overall increase from 2002 to 2024 is 832%, reflecting significant changes in the guideline value over time.

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. The median value is Rs 3,050 per sq.ft, placing Sri Devi Nagar 10th Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Sri Devi Nagar 10th 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 to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Nagar 10th Street?

The Sub Registrar Office that covers Sri Devi Nagar 10th 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 crucial during property transactions in Maduravoyal as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is bought or sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 10th Street?

The current guideline value of Sri Devi Nagar 10th 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 of Sri Devi Nagar 10th Street?

Sri Devi Nagar 10th Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Sri Devi Nagar 10th 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 of the property, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 2,97,000 in fees.