Guideline Value for Sri Devi Nagar

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Sri Devi Nagar has changed

The guideline value of Sri Devi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 300%. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 1,000 per sq.ft in 2023, followed by a further rise to Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The changes between revisions illustrate the fluctuations in property value in this area, reflecting various economic factors affecting the real estate market.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 2,200 per sq.ft, placing Sri Devi Nagar's 2024 figure below this median.

• Sri Baba Nagar: Rs 850 per sq.ft (2024)
• South Street 8th Street: Rs 2,200 per sq.ft (2024)
• South Street 7th Street: Rs 2,200 per sq.ft (2024)
• South Street 6th Street: Rs 2,200 per sq.ft (2024)
• South Street 5th Street: Rs 2,200 per sq.ft (2024)
• South Street 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the 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?

Sri Devi Nagar falls under 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. To find your specific SRO, visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to assess the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the other streets in Chembakkam with their guideline values?

Other streets in Chembakkam include Sri Baba Nagar at Rs 850 per sq.ft and several South Streets, all at Rs 2,200 per sq.ft as per the 2024 revision.

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

For a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 99,000, which includes stamp duty and registration fees based on the guideline value.

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

The Selaiyur Sub Registrar Office covers Sri Devi Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.