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Guideline Value

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Guideline Value for Devi Karumariamman Nagar Extn Main Road (Golden Avenue)

₹3850/sq.ft.

The guideline value for Devi Karumariamman Nagar Extn Main Road (golden Avenue) 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 Extn Main Road (golden Avenue)

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Devi Karumariamman Nagar Extn Main Road (Golden Avenue) guideline value

The current guideline value for Devi Karumariamman Nagar Extn Main Road (Golden Avenue) 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 Extn Main Road (Golden Avenue) has changed

The guideline value for Devi Karumariamman Nagar Extn Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 94% rise. However, it saw a decrease to Rs 2,345 per sq.ft in 2017, a reduction of 33%. The value then jumped to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 114%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have 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. The guideline value for Devi Karumariamman Nagar Extn Main Road is below this median.

Stamp duty and registration fee for property in Devi Karumariamman Nagar Extn Main Road (Golden Avenue)

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

Which Sub Registrar Office covers Devi Karumariamman Nagar Extn Main Road (Golden Avenue)?

The Sub Registrar Office that covers Devi Karumariamman Nagar Extn Main Road 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 is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar Extn Main Road?

The current guideline value of Devi Karumariamman Nagar Extn Main Road (Golden Avenue) 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 seen several changes, starting from Rs 1,800 per sq.ft in 2007, increasing to Rs 3,500 in 2012, then decreasing to Rs 2,345 in 2017, and rising to Rs 3,500 in 2023 before reaching Rs 3,850 in 2024.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for this street?

The Velacheri Sub Registrar Office is responsible for property registrations on Devi Karumariamman Nagar Extn Main Road. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Devi Karumariamman Nagar Extn Main Road?

The land classification for Devi Karumariamman Nagar Extn Main Road is Residential Class II Type - III, indicating its suitability for residential development.