Guideline Value for DEVI KARUMARIAMMAN NAGAR

Devi Karumariamman Nagar guideline value

The current guideline value of Devi Karumariamman Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Devi Karumariamman Nagar has changed

The guideline value for Devi Karumariamman Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 77 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 30% rise. By 2007, the value surged to Rs 500 per sq.ft, representing a 400% increase. The 2012 revision maintained the value at Rs 500 per sq.ft, and there was no figure available for the year 2017. The guideline value then remained unchanged at Rs 500 per sq.ft until it increased to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 3471%. This substantial rise illustrates the evolving property landscape in the area.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current value of Devi Karumariamman Nagar above this median.

• Devi Karumariamman Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Deiva Sigamani Street: Rs 1,980 per sq.ft (2024)
• Dhanam Nagar: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli 3rd Street: Rs 1,650 per sq.ft (2024)
• Dhanam Nagar Palli Extension 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar?

Devi Karumariamman Nagar falls under the Chennai South Joint I 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 further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Pallikaranai. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers must ensure that they are prepared for the fees associated with the guideline value when planning their purchase.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar?

The current guideline value of Devi Karumariamman Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 77 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 3471%.

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

Other streets in Pallikaranai include Devi Karumariamman Nagar Main Road at Rs 2,750 per sq.ft, Deiva Sigamani Street at Rs 1,980 per sq.ft, and Dhanam Nagar at Rs 1,650 per sq.ft, among others.

What is the registration fee for property in Devi Karumariamman Nagar?

The registration fee is calculated based on the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000, which is 2% of the guideline value.

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

The Sub Registrar Office covering Devi Karumariamman Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.