Guideline Value for Devi Karumariamman Nagar avenue

Devi Karumariamman Nagar avenue guideline value

The current guideline value of Devi Karumariamman Nagar avenue is Rs 3,850 per sq.ft, effective from 1 July 2024. This avenue 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 avenue has changed

The guideline value for Devi Karumariamman Nagar avenue has undergone several revisions since 2007. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft by 2017. The 2023 revision saw a significant increase to Rs 3,500 per sq.ft, followed by a further rise to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 114%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 avenue's 2024 figure below this median.

• Devi Karumariamman Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Devi Karumari Amman Nagar Bharathi Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar 9th Cross Street: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar BharathiyarStreet: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar 8th Street and Extn: Rs 3,850 per sq.ft (2024)
• Devi Karumariamman Nagar Bhavani Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar avenue

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, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Devi Karumariamman Nagar avenue?

The Devi Karumariamman Nagar avenue falls under 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 details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate taxes.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar avenue?

The current guideline value of Devi Karumariamman Nagar 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 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 are the guideline values for other streets in Velachery?

Other streets in Velachery have guideline values ranging from Rs 3,850 per sq.ft, similar to Devi Karumariamman Nagar avenue, to higher values depending on the specific street.

What fees are associated with buying property in Devi Karumariamman Nagar avenue?

When buying property, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

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