Guideline Value

Corporate

Guideline Value for Sri Devi Nagar 2nd Street

₹1600/sq.ft.

The guideline value for Sri Devi Nagar 2nd Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 1600 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Sri Devi Nagar 2nd Street

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Sri Devi Nagar 2nd Street guideline value

The current guideline value of Sri Devi Nagar 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 2nd Street has changed

Over the years, the guideline value for Sri Devi Nagar 2nd Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, a significant increase from Rs 1,005 per sq.ft in the 2017 revision. This represents a change of +59%. Prior to that, the 2012 revision recorded a figure of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by +7%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Sri Devi Nagar 2nd Street is below this median.

Stamp duty and registration fee for property in Sri Devi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Nagar 2nd Street?

The Sub Registrar Office that covers Sri Devi Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the sale price is either equal to or greater than the guideline value. This ensures compliance with local regulations and helps in the accurate assessment of taxes due on the transaction.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 2nd Street?

The current guideline value of Sri Devi Nagar 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,600 per sq.ft in 2024. This reflects a significant increase of +59% from 2017 to 2024.

What is the land classification for Sri Devi Nagar 2nd Street?

Sri Devi Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,600 per sq.ft would incur a total of Rs 1,44,000 in fees.

Which office handles registrations for Sri Devi Nagar 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Sri Devi Nagar 2nd Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.