Guideline Value for Sri Devi Nagar 5th Street

Sri Devi Nagar 5th Street guideline value

The current guideline value of Sri Devi Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 5th Street has changed

The guideline value for Sri Devi Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, marking a 7% change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, placing Sri Devi Nagar 5th Street's 2024 figure below this median.

• Sri Devi Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 8th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Nagar 5th Street?

The Sri Devi Nagar 5th Street is covered by 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 crucial factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When you buy or sell a property, the guideline value will influence the stamp duty and registration fees you are required to pay. This ensures that all parties are aware of the financial implications of the transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value for Sri Devi Nagar 5th Street?

The current guideline value for Sri Devi Nagar 5th 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 2023 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase. It increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, a significant rise of 49%.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. The guideline value for Sri Devi Nagar 5th Street is below this median.

What are the stamp duty and registration fees for properties in Sri Devi Nagar 5th Street?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Sri Devi Nagar 5th Street?

The Selaiyur Sub Registrar Office handles registrations for Sri Devi Nagar 5th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.