Guideline Value for Devi Karumariamman Nagar Yamuna Street

Devi Karumariamman Nagar Yamuna Street guideline value

The current guideline value for Devi Karumariamman Nagar Yamuna 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 Yamuna Street has changed

The guideline value for Devi Karumariamman Nagar Yamuna Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased by 94% to Rs 3,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased by 33% to Rs 2,345 per sq.ft. The value then rose significantly by 49% to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

It is important to note that the register has no figure for this street for the years 2002 and 2003. 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 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. Devi Karumariamman Nagar Yamuna Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Devi Karumariamman Nagar Yamuna 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. It is important to 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 accurate calculations.

Which Sub Registrar Office covers Devi Karumariamman Nagar Yamuna Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar Yamuna 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 a critical factor during property registration in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal and financial obligations during the transaction.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Devi Karumariamman Nagar Yamuna Street?

The current guideline value for Devi Karumariamman Nagar Yamuna 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, reflecting an overall increase of 114% over the years.

What is the land classification for Devi Karumariamman Nagar Yamuna Street?

The land classification for Devi Karumariamman Nagar Yamuna Street 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, 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.