Guideline Value for Devi Karumariamman Nagar Narmada Street

Devi Karumariamman Nagar Narmada Street guideline value

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

The guideline value for Devi Karumariamman Nagar Narmada Street has seen several revisions over the years. In 2007, the value was set at Rs 1,800 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, but then decreased to Rs 2,345 per sq.ft in 2017. The value rose sharply again to Rs 3,500 per sq.ft in 2023, and has now reached Rs 3,850 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a +94% increase; from 2012 to 2017, a -33% decrease; from 2017 to 2023, a +49% increase; and from 2023 to 2024, a +10% increase. 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. The median value for these streets is Rs 4,400 per sq.ft, placing Devi Karumariamman Nagar Narmada Street's 2024 figure below that median.

• Devi Karumari Amman Nagar Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Pillayar Koil Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Kaveri Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Rettaipillayar Koil Street: Rs 4,950 per sq.ft (2024)
• Devi Karumari Amman Nagar Golden Avenue Main Road: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Vaigai Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar Narmada 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, bringing the total to Rs 3,46,500. Please 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 details.

Which Sub Registrar Office covers Devi Karumariamman Nagar Narmada Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar Narmada 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 is an essential reference point when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees applicable during the transaction, ensuring that both buyers and sellers are aware of the official property valuation.

When registering a property, the guideline value helps in calculating the financial obligations that need to be settled. It is important for buyers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Devi Karumariamman Nagar Narmada 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, with various revisions in between, including a decrease and subsequent increases.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which is higher than the current value of Devi Karumariamman Nagar Narmada Street.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 3,46,500.

Where is the Sub Registrar Office for Devi Karumariamman Nagar Narmada Street located?

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