Guideline Value for Sri Devi Karumariyamman Nagar

Sri Devi Karumariyamman Nagar guideline value

The current guideline value of Sri Devi Karumariyamman Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Orathur village and falls under the Gooduvancheri SRO with a land classification of Residential Special Type - II.

How the guideline value of Sri Devi Karumariyamman Nagar has changed

Over the years, the guideline value for Sri Devi Karumariyamman Nagar has seen several revisions. The earliest recorded value was Rs 250 per sq.ft in 2007, which increased to Rs 500 per sq.ft in 2012. This value remained unchanged until the 2017 revision, where it rose to Rs 335 per sq.ft. The 2023 revision maintained the value at Rs 500 per sq.ft, and the latest revision in 2024 also set it at Rs 500 per sq.ft.

Notably, the guideline value experienced a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. The overall change from 2007 to 2024 reflects a 100% increase, indicating a consistent valuation in recent years.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 335 to Rs 1,700 per sq.ft, with the median value being Rs 500 per sq.ft. The guideline value of Sri Devi Karumariyamman Nagar aligns with this median.

• Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Sri Astalakshmi Garden: Rs 500 per sq.ft (2024)
• Sri Alamelumangapuram: Rs 500 per sq.ft (2024)
• Sri Agatheshwarar Nagar: Rs 896 per sq.ft (2024)
• S.R.B Avenue: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, calculated at 7%, would be Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Karumariyamman Nagar?

The Sub Registrar Office that covers Sri Devi Karumariyamman Nagar 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 further assistance.

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

When buying or selling property in Orathur, the guideline value plays a crucial role in determining the registration fees and stamp duties. The guideline value is used as a benchmark for calculating these fees, ensuring that transactions are recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Sri Devi Karumariyamman Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then to Rs 335 per sq.ft in 2017, and back to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for this area?

Sri Devi Karumariyamman Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

The Gooduvancheri Sub Registrar Office covers Sri Devi Karumariyamman Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Devi Karumariyamman Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft incurs a total guideline value of Rs 5,00,000, resulting in a stamp duty of Rs 35,000.