Guideline Value for Devi Karumariamman Nagar 3rd Street

Devi Karumariamman Nagar 3rd Street guideline value

The current guideline value of Devi Karumariamman Nagar 3rd 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 Karumariamman Nagar 3rd Street has changed

Starting from the oldest revision, the guideline value for Devi Karumariamman Nagar 3rd Street was Rs 1,800 per sq.ft in 2007. This figure saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a change of +94%. The value remained unchanged at Rs 3,500 per sq.ft until the next revision in 2023, which also did not alter the figure. However, in the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, reflecting a change of +10% from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by +114%.

Guideline values in Velachery

In Velachery, there are a total of 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 in this area is Rs 4,400 per sq.ft, placing the 2024 figure for Devi Karumariamman Nagar 3rd Street below this median.

• Devi Karumari Amman Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Cross Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

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

The Devi Karumariamman Nagar 3rd Street falls under 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 details.

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

The guideline value is a critical factor when registering a property in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When buyers and sellers agree on a sale price, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the costs involved in the transaction based on the guideline value.

Frequently asked questions

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

The current guideline value of Devi Karumariamman Nagar 3rd 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 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +114% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Devi Karumariamman Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft include Devi Karumari Amman Nagar 3rd Cross Street, 4th Cross Street, 2nd Street, 4th Street, 5th Cross Street, and 2nd Cross Street.