Guideline Value for Sri Devi Nagar 8th Street

Sri Devi Nagar 8th Street guideline value

The current guideline value of Sri Devi Nagar 8th 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 8th Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,500 per sq.ft. The most recent 2024 revision saw an increase to Rs 1,600 per sq.ft, marking a 7% change from the previous year.

For the years 2002, 2003, 2007, and 2017, the register has no figure for Sri Devi Nagar 8th Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Sri Devi Nagar 8th Street's 2024 figure below that median.

• Sri Devi Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 9th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 6th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 4th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value is 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. 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 8th Street?

The Sub Registrar Office that covers Sri Devi Nagar 8th 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 an important factor when registering property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are documented at a fair value.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 8th Street?

The current guideline value of Sri Devi Nagar 8th 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 remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase in the guideline value from 2012 to 2024.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. Sri Devi Nagar 8th Street's current guideline value is below this median.

What are the stamp duty rates for properties in Sri Devi Nagar 8th Street?

The stamp duty for properties in Sri Devi Nagar 8th Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Sri Devi Nagar 8th Street?

The Sub Registrar Office covering Sri Devi Nagar 8th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.