Guideline Value for Devi Karumariamman Nagar

Devi Karumariamman Nagar guideline value

The current guideline value of Devi Karumariamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Kolacheri village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Devi Karumariamman Nagar has changed

The guideline value for Devi Karumariamman Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 2,450 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the guideline value of Devi Karumariamman Nagar.

• Jayam Nagar: Rs 2,450 per sq.ft (2024)
• Kunrathur-Poonamalee Road: Rs 990 per sq.ft (2024)
• Parvathi Nagar: Rs 660 per sq.ft (2024)
• Sree Residency: Rs 660 per sq.ft (2024)
• Sri Janani Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Devi Karumariamman Nagar?

The Sub Registrar Office that covers Devi Karumariamman Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolacheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar?

The current guideline value of Devi Karumariamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, starting at Rs 600 per sq.ft in 2012, decreasing to Rs 402 per sq.ft in 2017, and then increasing to Rs 600 per sq.ft in 2023, before reaching Rs 660 per sq.ft in 2024.

What is the land classification of Devi Karumariamman Nagar?

Devi Karumariamman Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The 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 fees would amount to Rs 59,400.

Which office handles property registrations for Devi Karumariamman Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Devi Karumariamman Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.