Guideline Value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street

SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street guideline value

The current guideline value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street has changed

The guideline value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street has seen significant changes over the years. In 2002, the guideline value was Rs 120 per sq.ft. This increased to Rs 132 per sq.ft in 2003, marking a 10% rise. The value then saw substantial growth to Rs 445 per sq.ft in 2007, representing an increase of 237%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, a remarkable 574% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to Rs 3,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 2,650%. Notably, there are no figures available for the revisions of this street in any other years apart from those mentioned.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street is above this median.

• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - kamaraj Street: Rs 3,300 per sq.ft (2024)
• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - MGR Street: Rs 3,300 per sq.ft (2024)
• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Indira Gandhi Street: Rs 3,300 per sq.ft (2024)
• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Nehru Street: Rs 3,300 per sq.ft (2024)
• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Gandhi Street: Rs 3,300 per sq.ft (2024)
• SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Periyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street?

The Sub Registrar Office that covers SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Maduravoyal. It serves as the benchmark for calculating the stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers must ensure that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value helps in determining the official valuation of the property, ensuring that all transactions are documented accurately. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street?

The current guideline value for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street is Rs 3,300 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 120 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,650% over the years.

What is the land classification for this street?

SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for SRI DEVI SEEMATHAMMAN NAGAR(WEST) - Karunanithi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.