Guideline Value

Corporate

Guideline Value for Devi Karumariamman Nagar 6th Street

₹3850/sq.ft.

The guideline value for Devi Karumariamman Nagar 6th Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1800 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Devi Karumariamman Nagar 6th Street

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Devi Karumariamman Nagar 6th Street guideline value

The current guideline value of Devi Karumariamman Nagar 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Devi Karumariamman Nagar 6th Street has changed

Over the years, the guideline value of Devi Karumariamman Nagar 6th Street has seen several revisions. The earliest recorded revision available is from 2007, where the value was Rs 1,800 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking an increase of 94%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a reduction of 33%. The most recent revision before the current one was in 2023, where the value rose to Rs 3,500 per sq.ft, and then to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has risen by 114%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Devi Karumariamman Nagar 6th Street's 2024 figure below that median.

Stamp duty and registration fee for property in Devi Karumariamman Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be 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 charges to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar 6th Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar 6th Street is 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 information.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties to be aware of the guideline value to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar 6th Street?

The current guideline value of Devi Karumariamman Nagar 6th 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, reflecting an overall increase of 114% over the years.

What is the land classification for Devi Karumariamman Nagar 6th Street?

Devi Karumariamman Nagar 6th Street is classified as Residential Class II Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Devi Karumariamman Nagar 6th Street?

The registration for Devi Karumariamman Nagar 6th Street is handled by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.