Guideline Value for Hy-Bright Nagar

Hy-Bright Nagar guideline value

The current guideline value of Hy-Bright Nagar is Rs 1,500 per sq.ft, as per the 2023 revision. This area is located in Urapakkam village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Hy-Bright Nagar has changed

Over the years, the guideline value of Hy-Bright Nagar has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 1,500 per sq.ft, reflecting an increase of 49% from the previous revision.

From the 2007 revision to the 2023 revision, the overall change in guideline value is an increase of 150%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

Currently, there are no specific village figures available for Urapakkam. However, Hy-Bright Nagar is part of the guideline values set for this locality. The following are the other streets in Urapakkam:

Stamp duty and registration fee for property in Hy-Bright Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is essential to remember that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Hy-Bright Nagar?

The Sub Registrar Office that covers Hy-Bright Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Urapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When you buy or sell a property, the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the transaction. It is advisable to check the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Hy-Bright Nagar?

The current guideline value of Hy-Bright Nagar is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally increased back to Rs 1,500 per sq.ft in 2023.

What is the land classification for Hy-Bright Nagar?

The land classification for Hy-Bright Nagar is Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Hy-Bright Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft results in a total guideline value of Rs 15,00,000, leading to a stamp duty of Rs 1,05,000.