Guideline Value for Devi Karumariamman Nagar 1st Main Road

Devi Karumariamman Nagar 1st Main Road guideline value

The current guideline value of Devi Karumariamman Nagar 1st Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Devi Karumariamman Nagar 1st Main Road has changed

In the 2007 revision, the guideline value was Rs 600 per sq.ft. This figure increased significantly in the 2012 revision to Rs 1,200 per sq.ft, marking a 100% increase. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw a rise to Rs 1,200 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 1,300 per sq.ft, which is an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 117%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Devi Karumariamman Nagar 1st Main Road's 2024 figure is below this median.

• Devi Karumariamman Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total cost of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Devi Karumariamman Nagar 1st Main Road?

The Sub Registrar Office covering Devi Karumariamman Nagar 1st Main Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it impacts the overall cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar 1st Main Road?

The current guideline value of Devi Karumariamman Nagar 1st Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 600 per sq.ft in 2007, rising to Rs 1,200 in 2012, dropping to Rs 804 in 2017, and then increasing to Rs 1,200 in 2023 before reaching Rs 1,300 in 2024.

What is the land classification for this area?

Devi Karumariamman Nagar 1st Main Road falls under the Residential Class II Type - I land classification.

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

The Sub Registrar Office for Devi Karumariamman Nagar 1st Main Road is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.