Guideline Value for Devi Karumariamman Nagar Rettaipillayar Koil Street

Devi Karumariamman Nagar Rettaipillayar Koil Street guideline value

The current guideline value of Devi Karumariamman Nagar Rettaipillayar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Devi Karumariamman Nagar Rettaipillayar Koil Street has changed

The guideline value has seen significant changes over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a 68% increase. The value then rose to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The current 2024 revision shows a further increase to Rs 4,950 per sq.ft, which is a 10% rise from 2023.

Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that the revisions for the years 2002, 2003, and 2012 do not have figures listed for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, positioning Devi Karumariamman Nagar Rettaipillayar Koil Street above this median.

• Devi Karumariamman Nagar Pillayar Koil Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Vaigai Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar Pillaiyar Koil Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Vallalar Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Narmada Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar/Vijaya Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar Rettaipillayar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that 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 Rettaipillayar Koil Street?

The Devi Karumariamman Nagar Rettaipillayar Koil Street is covered by 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. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline values in their area, as this can significantly impact the overall costs associated with property transactions. Accurate knowledge of these values can help in better financial planning during the buying or selling process.

Frequently asked questions

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

The current guideline value of Devi Karumariamman Nagar Rettaipillayar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,800 per sq.ft to Rs 4,950 per sq.ft in 2024, marking a total increase of 175% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office handles registrations for this street?

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

What is the land classification for this street?

The land classification for Devi Karumariamman Nagar Rettaipillayar Koil Street is Residential Class II Type - I.