Guideline Value for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street

Devi Karumari Amman Nagar Golden Avenue 1st Cross Street guideline value

The current guideline value for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Devi Karumari Amman Nagar Golden Avenue 1st Cross Street has changed

The guideline value of Devi Karumari Amman Nagar Golden Avenue 1st Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017, marking a decrease of 33%. However, following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and further rose to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street is below this median.

• Devi Karumariamman Nagar Extn. Yamuna Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar Golden Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Extn Vaigai Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar Golden Avenue Extn. 1st Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Extn, Narmada Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar Golden Avenue Extn. 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumari Amman Nagar Golden Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. 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 detailed calculations.

Which Sub Registrar Office covers Devi Karumari Amman Nagar Golden Avenue 1st Cross Street?

The Sub Registrar Office that covers Devi Karumari Amman Nagar Golden Avenue 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are calculated based on this figure.

Additionally, the guideline value ensures transparency in property transactions, helping to prevent undervaluation and ensuring that appropriate taxes are collected by the government. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street?

The current guideline value for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value would be Rs 38,50,000, resulting in a total cost of Rs 3,46,500 for stamp duty and registration fees.

Which office handles the registration for this street?

The Velacheri Sub Registrar Office handles the registration for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for this area?

The land classification for Devi Karumari Amman Nagar Golden Avenue 1st Cross Street is Residential Class II Type - III.