Guideline Value for Barani Street (Udayam Nagar)

Barani Street (Udayam Nagar) guideline value

The current guideline value of Barani Street (Udayam Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Barani Street (Udayam Nagar) has changed

Over the years, the guideline value for Barani Street (Udayam Nagar) has seen several revisions. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, up from Rs 3,500 per sq.ft in the 2023 revision. This represents a 10% increase from the previous year. The 2012 revision also recorded a value of Rs 3,500 per sq.ft, indicating no change from 2012 to 2023. Notably, the register has no figures for the years 2002, 2003, 2007, and 2017.

In summary, from 2012 to 2024, the overall increase in the guideline value is 10%. The absence of figures in the specified earlier years means there is limited historical data for this street.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Barani Street (Udayam Nagar) below this median value.

• Barani Street (in Arumuga Nagar): Rs 3,850 per sq.ft (2024)
• Barathi Street: Rs 4,950 per sq.ft (2024)
• Barathiyar Street: Rs 4,950 per sq.ft (2024)
• Barathiyar Street (Gandhi Salai): Rs 4,950 per sq.ft (2024)
• Bashiyam colony: Rs 3,850 per sq.ft (2024)
• Bashiyam colony 1st street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Barani Street (Udayam Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 Barani Street (Udayam Nagar)?

The Sub Registrar Office that covers Barani Street (Udayam Nagar) is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When you register a property, the authorities will assess the guideline value to calculate the applicable fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Barani Street (Udayam Nagar)?

The current guideline value of Barani Street (Udayam Nagar) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, and the overall increase from 2012 to 2024 is 10%.

What is the land classification of Barani Street (Udayam Nagar)?

Barani Street (Udayam Nagar) is classified as Residential Class II Type - III. This classification can impact the types of properties and developments allowed in the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Barani Street (Udayam Nagar)?

The Velacheri Sub Registrar Office covers Barani Street (Udayam Nagar) and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.