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Guideline Value

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Guideline Value for Devi Karumariamman Nagar 8th Street and Extn

₹3850/sq.ft.

The guideline value for Devi Karumariamman Nagar 8th Street And Extn 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 8th Street And Extn

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Devi Karumariamman Nagar 8th Street and Extn guideline value

The current guideline value for Devi Karumariamman Nagar 8th Street and Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Devi Karumariamman Nagar 8th Street and Extn has changed

Over the years, the guideline value for Devi Karumariamman Nagar 8th Street and Extn has seen several revisions. The 2007 revision recorded a value of Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, reflecting a significant rise of 94%. However, the value decreased by 33% to Rs 2,345 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,500 per sq.ft, before increasing to the current rate of Rs 3,850 per sq.ft in 2024, which is a 10% rise.

The overall change from the 2007 revision to the 2024 revision shows a substantial increase of 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, with a median value of Rs 4,400 per sq.ft. Devi Karumariamman Nagar 8th Street and Extn's current guideline value is below this median.

Stamp duty and registration fee for property in Devi Karumariamman Nagar 8th Street and Extn

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% totals Rs 2,69,500, and the registration fee at 2% is Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devi Karumariamman Nagar 8th Street and Extn?

The Sub Registrar Office that covers Devi Karumariamman Nagar 8th Street and Extn 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 additional assistance.

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

The guideline value plays a crucial role during property registration in Velachery. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This process helps in maintaining transparency in property transactions and ensures that the values reflect the current market conditions.

Frequently asked questions

What is the current guideline value for Devi Karumariamman Nagar 8th Street and Extn?

The current guideline value for Devi Karumariamman Nagar 8th Street and Extn 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 significantly, 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 are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, with stamp duty at Rs 2,69,500 and registration fees at Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Devi Karumariamman Nagar 8th Street and Extn?

The Velacheri Sub Registrar Office handles registrations for Devi Karumariamman Nagar 8th Street and Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected.