Guideline Value for Hindu Colony 2nd Main Road

Hindu Colony 2nd Main Road guideline value

The current guideline value of Hindu Colony 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Hindu Colony 2nd Main Road has changed

The guideline value for Hindu Colony 2nd Main Road has seen several revisions over the years. In 2002, the value was Rs 539 per sq.ft, which increased to Rs 604 per sq.ft in 2003. The value then rose significantly to Rs 1,300 per sq.ft in 2007, followed by a substantial jump to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value increased to Rs 4,000 per sq.ft in 2023 and is now Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 716%. The revisions from 2017 to 2023 show a significant increase of 49%, while the change from 2012 to 2017 reflects a decrease of 33%. The 2007 to 2012 revision shows an increase of 208%, and from 2003 to 2007, the value rose by 115%. The register has no figures for the years not mentioned.

Guideline values in Ullagaram

Ullagaram has a total of 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Hindu Colony 2nd Main Road above this median.

• Hindu Colony 1st Main Road: Rs 4,400 per sq.ft (2024)
• Hindu Colony Main road: Rs 4,400 per sq.ft (2024)
• Indira Cross Street: Rs 2,200 per sq.ft (2024)
• Indira Street Main: Rs 2,200 per sq.ft (2024)
• Gouri Colony: Rs 3,900 per sq.ft (2024)
• Gopinathan Street Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Hindu Colony 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hindu Colony 2nd Main Road?

The Sub Registrar Office that covers Hindu Colony 2nd Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Ullagaram. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It ensures that the property is registered at a value that reflects the current market conditions as per the official guidelines.

Frequently asked questions

What is the current guideline value of Hindu Colony 2nd Main Road?

The current guideline value of Hindu Colony 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 539 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showcasing an overall increase of 716% over the years.

What is the median guideline value in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft, with Hindu Colony 2nd Main Road being above this median at Rs 4,400 per sq.ft.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.