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Guideline Value

Corporate

Guideline Value for Devi Karumariamman Nagar Bhavani Street

₹3850/sq.ft.

The guideline value for Devi Karumariamman Nagar Bhavani 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 Bhavani Street

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Devi Karumariamman Nagar Bhavani Street guideline value

The current guideline value of Devi Karumariamman Nagar Bhavani 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 Bhavani Street has changed

The guideline value for Devi Karumariamman Nagar Bhavani Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a significant rise of 94%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value surged again to Rs 3,500 per sq.ft in 2023, and most recently, it has risen to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 114%.

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 Bhavani Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Devi Karumariamman Nagar Bhavani 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 amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Devi Karumariamman Nagar Bhavani Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar Bhavani 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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees during the registration process.

It is essential to be aware that the guideline value may differ from the actual sale price of the property. Therefore, the duty is charged on whichever amount is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Devi Karumariamman Nagar Bhavani 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 significantly, starting from Rs 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 114% over the years.

What is the land classification for this street?

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

Which office handles registrations for this area?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.