Guideline Value for Sri Maha Devi Nagar

Sri Maha Devi Nagar guideline value

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

How the guideline value of Sri Maha Devi Nagar has changed

The guideline value for Sri Maha Devi Nagar has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value of Sri Maha Devi Nagar is below this median.

• Sri Meenakshi Nagar: Rs 1,600 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,900 per sq.ft (2024)
• Sri Lakshmi amman Nagar: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar Extn.: Rs 1,900 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,900 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Maha Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling 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 more details.

Which Sub Registrar Office covers Sri Maha Devi Nagar?

The Sub Registrar Office that covers Sri Maha Devi Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration of property.

Frequently asked questions

What is the current guideline value of Sri Maha Devi Nagar?

The current guideline value of Sri Maha Devi Nagar 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 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Sri Maha Devi Nagar?

Sri Maha Devi Nagar is classified as Residential Class II Type - I.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is the stamp duty calculated for properties in Sri Maha Devi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the stamp duty would be Rs 1,12,000.