Guideline Value for DEVIPARASAKTHI NAGAR STREET

Deviparasakthi Nagar Street guideline value

The current guideline value of Deviparasakthi Nagar Street is Rs 1,930 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Deviparasakthi Nagar Street has changed

Over the years, the guideline value of Deviparasakthi Nagar Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 1,750 per sq.ft, which then changed to Rs 1,172 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,750 per sq.ft, and the most recent revision in 2024 set it at Rs 1,930 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

When examining the changes between the revisions, the transition from 2017 to 2023 marked a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, which aligns with the current guideline value of Deviparasakthi Nagar Street.

• Devi Parasakthi Nagar: Rs 1,930 per sq.ft (2024)
• Devi Nagar Pilliyar Koil Street: Rs 2,480 per sq.ft (2024)
• Devi Nagar Main Road: Rs 2,480 per sq.ft (2024)
• Devi Nagar 1st Street: Rs 2,480 per sq.ft (2024)
• Devi Nagar: Rs 2,480 per sq.ft (2024)
• Dharmaraja Nagar 1st, 2nd, 3rd, 4th & 5th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Deviparasakthi Nagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, bringing the total to Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Deviparasakthi Nagar Street?

The Sub Registrar Office that covers Deviparasakthi Nagar Street is 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 more information.

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

When buying or selling property in Karambakkam, the guideline value is a crucial factor in determining the registration fees. It serves as a benchmark for calculating stamp duty, which is mandatory during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

During registration, the higher amount between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that the registration process adheres to the legal requirements set by the state authorities.

Frequently asked questions

What is the current guideline value of Deviparasakthi Nagar Street?

The current guideline value of Deviparasakthi Nagar Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,930 per sq.ft in 2024.

What is the land classification for Deviparasakthi Nagar Street?

Deviparasakthi Nagar Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Deviparasakthi Nagar Street is 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 of the property. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 1,73,700 in duties and fees.