Guideline Value for Sri Devi Karumari Amman Nagar

Sri Devi Karumari Amman Nagar guideline value

The current guideline value for Sri Devi Karumari Amman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Devi Karumari Amman Nagar has changed

Over the years, the guideline value for Sri Devi Karumari Amman Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 11%. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value for Sri Devi Karumari Amman Nagar.

• Sri Devi Karumari Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue / Dhurgai Avenue & Annex: Rs 2,700 per sq.ft (2024)
• Sri Arasu Avenue: Rs 2,200 per sq.ft (2024)
• Sri Annai Avenue: Rs 2,200 per sq.ft (2024)
• Soundhariya Colony / Soundhariya Nagar: Rs 2,200 per sq.ft (2024)
• Solaiamman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Karumari Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Karumari Amman Nagar?

The Sub Registrar Office that covers Sri Devi Karumari Amman Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to consider this value in negotiations and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value for Sri Devi Karumari Amman Nagar?

The current guideline value for Sri Devi Karumari Amman Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2017 to 2023, where it rose from Rs 1,340 to Rs 2,000 per sq.ft.

What are the other streets in Selavoyal with similar guideline values?

Other streets in Selavoyal with a guideline value of Rs 2,200 per sq.ft include Sri Devi Karumari Amman Koil Street, Sri Arasu Avenue, Sri Annai Avenue, and Soundhariya Colony.

What fees are associated with property transactions in Sri Devi Karumari Amman Nagar?

When registering property in Sri Devi Karumari Amman Nagar, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Sri Devi Karumari Amman Nagar?

The Madhavaram Sub Registrar Office, which covers Sri Devi Karumari Amman Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.