Guideline Value for Karumari Street(Devi Nagar)

Karumari Street(Devi Nagar) guideline value

The current guideline value of Karumari Street(Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Karumari Street(Devi Nagar) has changed

The guideline value for Karumari Street(Devi Nagar) has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which significantly increased to Rs 2,200 per sq.ft in the 2012 revision, marking a substantial rise of 450%. However, in the 2017 revision, the value decreased to Rs 1,474 per sq.ft, reflecting a decline of 33%. The 2023 revision brought it back up to Rs 2,200 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,400 per sq.ft, an increase of 9% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 500%. Notably, there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with the median value being Rs 2,400 per sq.ft. Karumari Street(Devi Nagar) aligns with this median value at Rs 2,400 per sq.ft.

• Karunanidhi Nagar (K.K.Nagar): Rs 2,200 per sq.ft (2024)
• Karpagambal Nagar: Rs 990 per sq.ft (2024)
• Karpagam Avenue: Rs 1,500 per sq.ft (2024)
• Karmegam Street: Rs 1,900 per sq.ft (2024)
• Karikalan Street (senthil nagar): Rs 2,700 per sq.ft (2024)
• Kaveri Street (Sri Devi Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Karumari Street(Devi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karumari Street(Devi Nagar)?

The Sub Registrar Office covering Karumari Street(Devi Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, thereby influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Karumari Street(Devi Nagar)?

The current guideline value of Karumari Street(Devi Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 500% across the revisions.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Karumari Street(Devi Nagar) is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I approach for registration?

The Ambattur Sub Registrar Office is responsible for the registration of properties in Karumari Street(Devi Nagar).

What is the median guideline value for streets in Thirumullaivoyal?

The median guideline value for streets in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as that of Karumari Street(Devi Nagar) for 2024.