Guideline Value for Hindu Colony Main road

Hindu Colony Main road guideline value

The current guideline value for Hindu Colony Main road in Ullagaram village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Hindu Colony Main road has changed

Starting from the earliest revision in 2002, the guideline value was Rs 539 per sq.ft. In 2003, it increased to Rs 604 per sq.ft, marking a 12% rise. The value saw a significant jump in 2007 to Rs 1,300 per sq.ft, which was an increase of 115%. The 2012 revision set the value at Rs 4,000 per sq.ft, resulting in a 208% increase from the previous revision. However, in 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a 33% decline.

In 2023, the guideline value rose to Rs 4,000 per sq.ft, and then it increased again to the current figure of Rs 4,400 per sq.ft in 2024, showing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 716%. There are no figures available for revisions in years not listed in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Hindu Colony Main road is above this median.

• Hindu Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Hindu Colony 1st 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 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 for these fees would be Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Hindu Colony Main road?

The Sub Registrar Office that covers Hindu Colony 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 a crucial factor in the registration process when buying or selling property in Ullagaram. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair value according to the local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that both buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value for Hindu Colony Main road?

The current guideline value for Hindu Colony 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 changed significantly from Rs 539 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 716% over this period.

What are the stamp duty and registration fees for property in Hindu Colony Main road?

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.

Which office handles registration for properties in Ullagaram?

The Alandur Sub Registrar Office handles registration for properties in Ullagaram, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Hindu Colony Main road?

The land classification for Hindu Colony Main road is Residential Class I Type - II, indicating its suitability for residential development.