Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Ulunthai village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

How the guideline value of Main Road has changed

Over the years, the guideline value for Main Road has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 100 per sq.ft, reflecting a 33% drop from the previous value. The most recent 2024 revision has returned the value to Rs 150 per sq.ft, showing no change from the 2023 revision.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 150 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable, with no overall change.

Guideline values in Ulunthai

In Ulunthai village, there are 27 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 426 per sq.ft. The median value among these streets is Rs 150 per sq.ft, which is the same as the guideline value for Main Road.

• Mandhaiveli Street: Rs 150 per sq.ft (2024)
• Logaiya Naidu Avenue: Rs 285 per sq.ft (2024)
• Little Orchars: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Muthiriyar Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, together totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Main Road?

The Sub Registrar Office that covers Main Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ulunthai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives a fair amount based on the value of the property being registered.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a baseline for negotiations and ensures that all parties are aware of the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Main Road?

The current guideline value of Main Road in Ulunthai village is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft in 2023 and 2024, after a decrease to Rs 100 per sq.ft in 2017. From 2012 to 2017, it decreased by 33% and then increased by 50% from 2017 to 2023.

What is the classification of land on Main Road?

Main Road is classified as Residential Class II Type - I under the Sunguvarchattram SRO.

Where can I find the registration office for Main Road?

The registration office for Main Road is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated on property in Ulunthai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,50,000, the stamp duty at 7% would be Rs 10,500.