Guideline Value for Sri Devi Karumariamman Nagar-II

Sri Devi Karumariamman Nagar-II guideline value

The current guideline value for Sri Devi Karumariamman Nagar-II is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kuthanoor village under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Devi Karumariamman Nagar-II has changed

Over the years, the guideline value for Sri Devi Karumariamman Nagar-II has seen several revisions. The 2007 revision set the value at Rs 85 per sq.ft, which increased significantly to Rs 550 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 368 per sq.ft. The value was then maintained at Rs 550 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From the 2017 revision to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was substantial at 547%, while the overall change from 2007 to 2024 reflects a consistent increase of 547% as well. The guideline value has remained stable at Rs 550 per sq.ft for the last two revisions.

Guideline values in Kuthanoor

Kuthanoor village has 30 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing the guideline value of Sri Devi Karumariamman Nagar-II below this median.

• Sri Devi Karumariamman Nagar: Rs 550 per sq.ft (2024)
• Sri Karumari Amman Nagar: Rs 1,800 per sq.ft (2024)
• Senthil Nagar Extn: Rs 800 per sq.ft (2024)
• Senthil Nagar: Rs 800 per sq.ft (2024)
• Subramanyam Nagar: Rs 705 per sq.ft (2024)
• Sarvamangala Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Karumariamman Nagar-II

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, totaling Rs 38,500, while the registration fee at 2% comes to Rs 11,000. In total, the fees would amount 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Karumariamman Nagar-II?

The Sub Registrar Office that covers Sri Devi Karumariamman Nagar-II is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kuthanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per the prevailing rates in the area.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value for Sri Devi Karumariamman Nagar-II?

The current guideline value for Sri Devi Karumariamman Nagar-II is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 550 per sq.ft in both 2023 and 2024, while it was Rs 368 per sq.ft in 2017 and Rs 85 per sq.ft in 2007.

What is the median guideline value in Kuthanoor?

The median guideline value for streets in Kuthanoor is Rs 800 per sq.ft, which is above the current value of Rs 550 per sq.ft for Sri Devi Karumariamman Nagar-II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, on a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Which office handles the registration for Sri Devi Karumariamman Nagar-II?

The Gooduvancheri Sub Registrar Office handles the registration for Sri Devi Karumariamman Nagar-II, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.