Guideline Value for Devi Karumariamman Nagar 3rd Street

Devi Karumariamman Nagar 3rd Street guideline value

The current guideline value for Devi Karumariamman Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Devi Karumariamman Nagar 3rd Street has changed

The guideline value for Devi Karumariamman Nagar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, this value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The guideline value then rose significantly to Rs 1,200 per sq.ft in 2023, followed by an increase to Rs 1,300 per sq.ft in 2024, reflecting an 8% change.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that the register has no figure for this street in the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Devi Karumariamman Nagar 3rd Street's 2024 figure is below that median.

• Devi Karumariamman Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Main Road: 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)
• Devi Karumariamman Nagar 6th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar 3rd Street

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, bringing the total cost for these fees to Rs 1,17,000. 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 calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar 3rd Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions reflect fair pricing in the real estate market.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for Devi Karumariamman Nagar 3rd Street?

The current guideline value for Devi Karumariamman Nagar 3rd Street 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 changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 117% over the years.

What is the land classification for this street?

Devi Karumariamman Nagar 3rd Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Devi Karumariamman Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in this area?

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