Guideline Value for DEVI KARUMARI NAGAR 3RD CROSS STREET

Devi Karumari Nagar 3rd Cross Street guideline value

The current guideline value of Devi Karumari Nagar 3rd Cross Street 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 3rd Cross Street has changed

The guideline value for Devi Karumari Nagar 3rd Cross Street 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 rise of 233%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Devi Karumari Nagar 3rd Cross Street.

• Devi Karumari Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 5th Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar: 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 3rd Cross Street

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, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Devi Karumari Nagar 3rd Cross Street?

The Sub Registrar Office that covers Devi Karumari Nagar 3rd Cross Street 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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is transparent and fair. This value is essential for calculating the stamp duty and registration fees that are applicable during the registration process.

When a property is sold, the guideline value helps in assessing the transaction's legitimacy. Buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which is a critical factor to consider when planning a property transaction.

Frequently asked questions

What is the current guideline value of Devi Karumari Nagar 3rd Cross Street?

The current guideline value of Devi Karumari Nagar 3rd Cross Street 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 significantly from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 267% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 in fees.

Which office handles the registration for Devi Karumari Nagar 3rd Cross Street?

The Chennai South Joint II Sub Registrar Office handles the registration for Devi Karumari Nagar 3rd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Devi Karumari Nagar 3rd Cross Street?

The land classification for Devi Karumari Nagar 3rd Cross Street is Residential Class II Type - I.