Guideline Value for Sri Devi Nagar

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Devi Nagar has changed

The guideline value for Sri Devi Nagar has seen significant changes over the years. Starting from Rs 66 per sq.ft in 2003, it increased to Rs 350 per sq.ft in 2007, marking a substantial rise of 430%. The value then jumped dramatically to Rs 1,900 per sq.ft in 2012, reflecting an increase of 443%. However, it decreased to Rs 1,273 per sq.ft in 2017, a drop of 33%. In 2023, the guideline value rose to Rs 1,900 per sq.ft, and in 2024, it further increased to Rs 2,090 per sq.ft, showing a growth of 10% from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 3067%.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median value is Rs 2,090 per sq.ft, which is equal to the current guideline value of Sri Devi Nagar. Below are the guideline values for other streets in Kattupakkam:

• Sri Arul Avenue: Rs 2,090 per sq.ft (2024)
• Sri Nagar: Rs 2,090 per sq.ft (2024)
• Sri P.G. Avenue: Rs 1,980 per sq.ft (2024)
• Senthurpuram Extension II: Rs 3,960 per sq.ft (2024)
• Senthurpuram Extension: Rs 3,960 per sq.ft (2024)
• Senthurpuram Annex: Rs 3,960 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800, bringing the total cost for these fees to Rs 1,88,100. 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 Nagar?

The Sub Registrar Office that covers 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 Kattupakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Kattupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable stamp duty and registration fees. These fees are based on the higher value between the guideline value and the actual sale price, which helps in maintaining the integrity of property transactions within the area.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 66 per sq.ft in 2003 and reaching Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 3067% over these years.

What is the median guideline value in Kattupakkam?

The median guideline value in Kattupakkam is Rs 2,090 per sq.ft, which is the same as the current value for Sri Devi Nagar.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which office handles property registrations for Sri Devi Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Sri Devi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.