Guideline Value for Devi Karumariyamman Nagar

Devi Karumariyamman Nagar guideline value

The current guideline value of Devi Karumariyamman Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sundaracholavaram village, under the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Devi Karumariyamman Nagar has changed

The guideline value for Devi Karumariyamman Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 175 per sq.ft. This increased to Rs 500 per sq.ft in 2012, but then dropped to Rs 335 per sq.ft in 2017. Following that, the value rose significantly to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2007 to 2024, the overall increase in guideline value is 214%. The changes between revisions include a 186% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

Sundaracholavaram village has a total of 57 streets under the Kunrathur SRO with a guideline value for 2024 ranging from Rs 550 to Rs 4,600 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Devi Karumariyamman Nagar's 2024 figure below this median.

• Divya Nagar: Rs 880 per sq.ft (2024)
• Chakreswari Nagar Extension: Rs 880 per sq.ft (2024)
• Chakareswari Nagar Annexe: Rs 1,065 per sq.ft (2024)
• Gold Mine By Urban Tree: Rs 3,610 per sq.ft (2024)
• Gold Mine By Urban Tree Phase-II: Rs 4,070 per sq.ft (2024)
• Balakrishnan naidu street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Devi Karumariyamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total amount for these charges to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Devi Karumariyamman Nagar?

The Sub Registrar Office covering Devi Karumariyamman 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 Sundaracholavaram

The guideline value is a crucial factor in property transactions in Sundaracholavaram, as it determines the fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and accurate financial planning.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These charges are based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected for the transaction.

Frequently asked questions

What is the current guideline value of Devi Karumariyamman Nagar?

The current guideline value of Devi Karumariyamman Nagar is Rs 550 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 175 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Devi Karumariyamman Nagar?

Devi Karumariyamman Nagar is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% on the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total charges would be Rs 49,500.

Which office handles the registration of properties in Devi Karumariyamman Nagar?

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