Guideline Value for Devi Karumari Amman Nagar

Devi Karumari Amman Nagar guideline value

The current guideline value of Devi Karumari Amman Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Parivakkam village under the Poonamallee SRO and is classified as Residential Class I Type - I.

How the guideline value of Devi Karumari Amman Nagar has changed

The guideline value for Devi Karumari Amman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change has been an increase of 10%. Notably, the register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Parivakkam

Within Parivakkam village, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 6,750 per sq.ft. The median value for these streets is Rs 1,800 per sq.ft, placing Devi Karumari Amman Nagar's 2024 figure below that median.

• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Fairmont Estates: Rs 2,000 per sq.ft (2024)
• Garden Town: Rs 3,500 per sq.ft (2024)
• Arulmegu Palleswarar Nagar: Rs 660 per sq.ft (2024)
• Angala Parameswari Nagar: Rs 1,100 per sq.ft (2024)
• Krishna Nagar Phase I: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumari Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumari Amman Nagar?

The Sub Registrar Office covering Devi Karumari Amman Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Parivakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Devi Karumari Amman Nagar?

The current guideline value of Devi Karumari Amman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Devi Karumari Amman Nagar?

Devi Karumari Amman Nagar is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Devi Karumari Amman Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the 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. The current rate is 7% for stamp duty and 2% for the registration fee.