Guideline Value for Devi Karumariamman Nagar

Devi Karumariamman Nagar guideline value

The current guideline value of Devi Karumariamman Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in S. Kullathur village under the Pallavaram SRO and falls under the Residential Class I Type - II land classification.

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 2003, the guideline value was Rs 223 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in 2007, marking a rise of 304%. The value then rose to Rs 2,300 per sq.ft in 2012, reflecting an increase of 156%. However, it dropped to Rs 1,541 per sq.ft in 2017, which was a decrease of 33%. The subsequent revision in 2023 set the value at Rs 2,000 per sq.ft, an increase of 30%, leading to the current guideline value of Rs 2,530 per sq.ft in 2024, which is an increase of 27% from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,035%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft, with a median value of Rs 2,750 per sq.ft. Devi Karumariamman Nagar's 2024 figure is below this median.

• Devi Karumariamman Nagar 1 & 2 Main Road: Rs 2,530 per sq.ft (2024)
• Dillibabu Nagar: Rs 2,750 per sq.ft (2024)
• Chinnappa Nagar 1 And 2 Streets: Rs 2,750 per sq.ft (2024)
• Chinnapa Nagar: Rs 2,750 per sq.ft (2024)
• Easwaran Koil Street: Rs 2,530 per sq.ft (2024)
• Engineering Avenue 1 To 5 Streets: Rs 2,750 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 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, leading to a total of Rs 2,27,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devi Karumariamman Nagar?

The Sub Registrar Office that covers Devi Karumariamman Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a critical factor in the registration process when buying or selling property in S. Kullathur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Devi Karumariamman Nagar?

The current guideline value of Devi Karumariamman Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 223 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, representing an overall increase of 1,035%.

What is the land classification of Devi Karumariamman Nagar?

Devi Karumariamman Nagar falls under the Residential Class I Type - II land classification.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Devi Karumariamman Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do stamp duty and registration fees work in S. Kullathur?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.