Guideline Value for Devi Karumariamman Nagar1st Street

Devi Karumariamman Nagar1st Street guideline value

The current guideline value for Devi Karumariamman Nagar1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Devi Karumariamman Nagar1st Street has changed

The guideline value for Devi Karumariamman Nagar1st Street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then dropped to Rs 804 per sq.ft in 2017, before rising significantly to Rs 1,200 per sq.ft in 2023 and finally reaching Rs 1,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%, followed by an 8% rise from 2023 to 2024. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%. The register has no figure for this street for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Devi Karumariamman Nagar1st Street's 2024 figure below the median.

• Devi Karumariamman Nagar 1st Main Road: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar2nd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 4 th Street: Rs 1,300 per sq.ft (2024)
• Devi Karumariamman Nagar 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar1st Street?

The Sub Registrar Office that covers Devi Karumariamman Nagar1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar1st Street?

The current guideline value for Devi Karumariamman Nagar1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What is the registration office for Devi Karumariamman Nagar1st Street?

The registration office for Devi Karumariamman Nagar1st Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Tondaiarpet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current guideline value of Rs 1,300 per sq.ft for Devi Karumariamman Nagar1st Street.