Guideline Value for Devi Karumariamman Nagar 5th Street

Devi Karumariamman Nagar 5th Street guideline value

The current guideline value of Devi Karumariamman Nagar 5th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Devi Karumariamman Nagar 5th Street has changed

The guideline value for Devi Karumariamman Nagar 5th Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 600 per sq.ft. This figure increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, followed by another rise to the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 117%. The changes between the revisions highlight a fluctuating pattern, with notable increases and decreases at various intervals.

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 as of 2024. The median value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Devi Karumariamman Nagar 5th Street below that median.

• Devi Karumariamman Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 3rd 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 1st Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar 5th 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 to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar 5th Street?

The Devi Karumariamman Nagar 5th Street falls under the jurisdiction of 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 in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum price at which properties can be registered. When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently.

Additionally, it is used to calculate the stamp duty and registration fees, which are mandatory for property registration. Buyers must be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar 5th Street?

The current guideline value of Devi Karumariamman Nagar 5th 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, reflecting an overall increase of 117% over the years.

What are the guideline values for other streets in Tondaiarpet?

Other streets in Tondaiarpet also have a guideline value of Rs 1,300 per sq.ft as of 2024, including Devi Karumariamman Nagar 1st, 2nd, 3rd, 4th, and 6th Streets, as well as Devi Karumariamman Nagar 2nd Main Road.

What is the stamp duty for property in Devi Karumariamman Nagar 5th Street?

The stamp duty for a property valued at Rs 13,00,000 in Devi Karumariamman Nagar 5th Street would be Rs 91,000, calculated at 7% of the guideline value.

Which office handles property registrations for Devi Karumariamman Nagar 5th Street?

The Royapuram Sub Registrar Office handles property registrations for Devi Karumariamman Nagar 5th Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.