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 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 9th Street has changed

The guideline value for Sri Devi Nagar 9th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% rise.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a modest increase of 7%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 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 9th Street is below this median.

• Sri Devi Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 6th Street: 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 9th 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, charged at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total fees 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 use our stamp duty and registration fee calculator for precise calculations.

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

The Sub Registrar Office that covers Sri Devi Nagar 9th 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, within 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 plays a crucial role in the registration process of property transactions in Madambakkam. It is the minimum value set by the government for properties in a specific area, ensuring that the property is not sold below this value during registration.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, ensuring transparency and fairness in property transactions.

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 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. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

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

Sri Devi Nagar 9th Street is classified as Residential Class II Type - I. This classification indicates the type of residential development permitted in the area.

What are the registration fees for property transactions?

Registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee Rs 32,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.