Guideline Value

Corporate

Guideline Value for Devi Karumariamman Nagar

₹4400/sq.ft.

The guideline value for Devi Karumariamman Nagar in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹650 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹600 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹429 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Devi Karumariamman Nagar

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Devi Karumariamman Nagar guideline value

The current guideline value of Devi Karumariamman Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This locality is situated in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of Devi Karumariamman Nagar has changed

The guideline value for Devi Karumariamman Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 429 per sq.ft. This increased to Rs 600 per sq.ft in 2003, followed by a rise to Rs 650 per sq.ft in 2007. The value then saw a significant jump to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 4,400 per sq.ft.

Analyzing the changes between these revisions, the increase from 2002 to 2024 is remarkable, amounting to a total of 926%. The guideline value rose by 40% from 2002 to 2003, followed by an 8% increase from 2003 to 2007. The value surged by 515% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, and finally, the jump from 2023 to 2024 is 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a guideline value for 2024 ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Devi Karumariamman Nagar's 2024 figure above this median.

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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that the 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?

The Sub Registrar Office that covers Devi Karumariamman Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Valasaravakkam. It serves as a benchmark for determining the minimum value of a property for the purpose of stamp duty and registration fees. Buyers and sellers must be aware that these fees are calculated based on the higher value between the guideline value and the actual sale price.

When a property is sold, the buyer will need to pay the applicable stamp duty and registration fees based on the guideline value. This ensures that the government receives the correct revenue from property transactions, and it is essential for both parties to understand this aspect when engaging in real estate transactions.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar?

The current guideline value of Devi Karumariamman Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 429 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 926% over the years.

What is the classification of land in Devi Karumariamman Nagar?

The land in Devi Karumariamman Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Devi Karumariamman Nagar?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Devi Karumariamman Nagar.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,96,000.