Guideline Value for Sri Devi Nagar

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Sri Devi Nagar has changed

The guideline value for Sri Devi Nagar has seen several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased to Rs 150 per sq.ft in 2012. However, in 2017, it decreased to Rs 100 per sq.ft, before rising again to Rs 150 per sq.ft in both 2023 and 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 50%, while the change from 2012 to 2017 was a decrease of 33%. The significant increase from 2007 to 2012 was 200%. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Sri Devi Nagar's 2024 figure below that median.

• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 per sq.ft (2024)
• Sowndari garden: Rs 600 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Sri Ram Nagar: Rs 150 per sq.ft (2024)
• Sri Venkatachalapathy Nagar: Rs 410 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 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Nagar?

The Sub Registrar Office that covers Sri Devi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vallam. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which is essential for maintaining transparency in property dealings. It is advisable for both buyers and sellers to be informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 50 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreasing to Rs 100 per sq.ft in 2017, and finally stabilizing at Rs 150 per sq.ft in 2023 and 2024.

What is the median guideline value in Vallam?

The median guideline value for the streets in Vallam is Rs 200 per sq.ft, with Sri Devi Nagar's current value being below this median.

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

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500.

Which office handles property registrations for Sri Devi Nagar?

The Sriperumpudur Sub Registrar Office is responsible for property registrations in Sri Devi Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.