Guideline Value for Sri Devi Karumariamman Nagar

Sri Devi Karumariamman Nagar guideline value

The current guideline value of Sri Devi Karumariamman Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village, under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of Sri Devi Karumariamman Nagar has changed

The guideline value for Sri Devi Karumariamman Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. In 2017, it increased to Rs 469 per sq.ft, which was a decrease of 33%. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2023, marking an increase of 113%. The current figure, effective from 1 July 2024, is Rs 1,002 per sq.ft, showing no change from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Menambedu

Within Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Sri Devi Karumariamman Nagar's 2024 figure slightly below that median.

• Sri Krishna Nagar: Rs 1,001 per sq.ft (2024)
• Sowcar Street: Rs 1,700 per sq.ft (2024)
• Sounder Street: Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 6): Rs 1,700 per sq.ft (2024)
• Srinivasan Street (Ward 7): Rs 1,700 per sq.ft (2024)
• Sri Raja Rajaeswari Nagar: Rs 1,002 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Karumariamman Nagar?

The Sub Registrar Office that covers Sri Devi Karumariamman 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 Menambedu

The guideline value is a crucial factor when registering property transactions in Menambedu. It is used to determine the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Sri Devi Karumariamman Nagar?

The current guideline value of Sri Devi Karumariamman Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, with notable changes in 2017 and 2023.

What is the land classification for Sri Devi Karumariamman Nagar?

Sri Devi Karumariamman Nagar is classified as Residential Class V Type - I.

Which office handles registrations for properties in this area?

The Ambattur Sub Registrar Office is responsible for handling registrations for properties in Sri Devi Karumariamman Nagar.

How is stamp duty calculated for properties in Menambedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. Fees are assessed at a rate of 7% for stamp duty and 2% for registration.