Guideline Value for Sri Devi Nagar

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Sri Devi Nagar has changed

The guideline value for Sri Devi Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 450 per sq.ft, which increased dramatically to Rs 1,300 per sq.ft in 2012, marking a rise of 189%. However, it then decreased to Rs 871 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,300 per sq.ft in 2023, and subsequently increased to Rs 1,430 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 218%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft, with a median of Rs 1,540 per sq.ft. The guideline value of Sri Devi Nagar is below this median.

• Sri Balaji Nagar: Rs 1,815 per sq.ft (2024)
• Sri Kamakshi Amman Nagar: Rs 1,655 per sq.ft (2024)
• Sri Ambal Nagar Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,540 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,090 per sq.ft (2024)
• Sokkammal Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total cost Rs 1,28,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Nagar?

The Sub Registrar Office covering Sri Devi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the transaction is recorded at a fair value, reflecting the property's worth in the current market.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 1,430 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 450 per sq.ft in 2007 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 218% over the years.

What is the land classification of Sri Devi Nagar?

Sri Devi Nagar is classified under Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Devi Nagar?

For a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 and the registration fee would be Rs 28,600, totaling Rs 1,28,700.

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

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, covering the Sri Devi Nagar area.