Guideline Value for DEVI KARUMARI NAGAR 2ND CROSS STREE

Devi Karumari Nagar 2nd Cross Stree guideline value

The current guideline value for Devi Karumari Nagar 2nd Cross Stree is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devi Karumari Nagar 2nd Cross Stree has changed

The guideline value for Devi Karumari Nagar 2nd Cross Stree has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 670 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Devi Karumari Nagar 2nd Cross Stree's current guideline value aligns with this median.

• Devi Karumari Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 5th Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumari Nagar 2nd Cross Stree

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumari Nagar 2nd Cross Stree?

The Sub Registrar Office that covers Devi Karumari Nagar 2nd Cross Stree is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Devi Karumari Nagar 2nd Cross Stree?

The current guideline value of Devi Karumari Nagar 2nd Cross Stree 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 seen several revisions, starting from Rs 300 per sq.ft in 2007, rising to Rs 1,100 per sq.ft in 2024. Notable changes include a rise of 233% from 2007 to 2012 and a subsequent decline to Rs 670 per sq.ft in 2017.

What is the registration office for Devi Karumari Nagar 2nd Cross Stree?

The registration office for Devi Karumari Nagar 2nd Cross Stree is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.

What are the guideline values for other streets in Koladi?

Other streets in Koladi under the Chennai South Joint II SRO have a guideline value of Rs 1,100 per sq.ft as well. This includes Devi Karumari Nagar 1st Cross Street, 3rd Cross Street, 4th Cross Street, 5th Cross Street, and Devi Nagar.