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Guideline Value

Corporate

Guideline Value for Devi Karumariamman Nagar Extn. 1st Street (Sri)

₹3850/sq.ft.

The guideline value for Devi Karumariamman Nagar Extn. 1st Street (sri) 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 N/A
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. 1st Street (sri)

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Devi Karumariamman Nagar Extn. 1st Street (Sri) guideline value

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

How the guideline value of Devi Karumariamman Nagar Extn. 1st Street (Sri) has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from Rs 2,345 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 3,500 per sq.ft again, and the latest revision in 2024 raised it to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 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 guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value for Devi Karumariamman Nagar Extn. 1st Street (Sri) is below the median.

Stamp duty and registration fee for property in Devi Karumariamman Nagar Extn. 1st Street (Sri)

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

Which Sub Registrar Office covers Devi Karumariamman Nagar Extn. 1st Street (Sri)?

The Devi Karumariamman Nagar Extn. 1st Street (Sri) falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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

The guideline value is a crucial figure used during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

What is the current guideline value for Devi Karumariamman Nagar Extn. 1st Street (Sri)?

The current guideline value for Devi Karumariamman Nagar Extn. 1st Street (Sri) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, including a decrease from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, followed by increases to Rs 3,500 in 2023 and Rs 3,850 in 2024.

What is the land classification for this street?

The land classification for Devi Karumariamman Nagar Extn. 1st Street (Sri) is Residential Class II Type - III.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

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