Guideline Value for Sri Devi Nagar

Sri Devi Nagar guideline value

The current guideline value of Sri Devi Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Sri Devi Nagar has changed

The guideline value for Sri Devi Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it then decreased to Rs 1,206 per sq.ft in the 2017 revision. The value saw a substantial increase in the following revisions, reaching Rs 1,800 per sq.ft in 2023 and finally rising to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kobarasanallur

Kobarasanallur village consists of 28 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median guideline value for these streets is Rs 1,980 per sq.ft, which is equal to the current value of Sri Devi Nagar.

• Sree Hari Nagar: Rs 2,750 per sq.ft (2024)
• Sri Moogambigai Nagar Extn: Rs 2,750 per sq.ft (2024)
• Sri Mookambikai Nagar: Rs 2,750 per sq.ft (2024)
• Sri Murugan Nagar: Rs 3,285 per sq.ft (2024)
• Sri Nagalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Sri Neminath Nagar: Rs 1,650 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Nagar?

The Sri Devi Nagar area falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is critical in determining the stamp duty and registration fees when buying or selling property in Kobarasanallur. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are fairly assessed and contribute to the local economy.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar?

The current guideline value of Sri Devi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 560% over the years.

What is the land classification for Sri Devi Nagar?

The land classification for Sri Devi Nagar is Mixed Special Type - II.

What fees are associated with buying property in Sri Devi Nagar?

When buying property in Sri Devi Nagar, the buyer must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.