Guideline Value for U V Samynathan Street

U V Samynathan Street guideline value

The current guideline value of U V Samynathan Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of U V Samynathan Street has changed

The guideline value of U V Samynathan Street has seen several revisions over the years. In 2002, the value was Rs 318 per sq.ft, which increased to Rs 356 per sq.ft in 2003, marking a 12% rise. The value then surged significantly by 237% to Rs 1,200 per sq.ft in 2007. Following this, the 2012 revision recorded a value of Rs 2,500 per sq.ft, reflecting a 108% increase from the previous revision. However, the value dropped by 33% to Rs 1,675 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49% to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, which is a 12% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 781%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is the same as the current value for U V Samynathan Street.

• U V Samynathan 4th Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan 3rd Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan Street Ext.: Rs 2,800 per sq.ft (2024)
• U V Samynathan 2nd Street: Rs 2,800 per sq.ft (2024)
• U V Sami nathan Street Extension: Rs 2,800 per sq.ft (2024)
• U V Sami nathan 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in U V Samynathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. 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 details on fees applicable to your property.

Which Sub Registrar Office covers U V Samynathan Street?

The U V Samynathan Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It serves as a reference point for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is officially recorded and that the necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of U V Samynathan Street?

The current guideline value of U V Samynathan Street is Rs 2,800 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 318 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 781% over this period.

What is the land classification for U V Samynathan Street?

U V Samynathan Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for a property in U V Samynathan Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for U V Samynathan Street?

The Alandur Sub Registrar Office handles registrations for U V Samynathan Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.