Guideline Value for U.R. NAGAR (FACING PARK ROAD)

U.R. Nagar (Facing Park Road) guideline value

The current guideline value of U.R. Nagar (Facing Park Road) is Rs 9,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of U.R. Nagar (Facing Park Road) has changed

Over the years, the guideline value for U.R. Nagar (Facing Park Road) has seen several revisions. The most recent revision in 2024 set the value at Rs 9,700 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 9,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 6,030 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision had set the value at Rs 9,000 per sq.ft, reflecting a decrease of 33% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for the village is Rs 3,800 per sq.ft, positioning U.R. Nagar (Facing Park Road) above this median.

• U.R.Nagar Extension: Rs 6,600 per sq.ft (2024)
• U.R.Nagar 'rukmani Street': Rs 6,600 per sq.ft (2024)
• U.R.Nagar / Streets: Rs 6,600 per sq.ft (2024)
• T.V.S.Nagar "nethaji Street": Rs 2,800 per sq.ft (2024)
• T.V.S.Nagar Main Road: Rs 3,400 per sq.ft (2024)
• T.V.S.Nagar "eswaran Koil Street": Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in U.R. Nagar (Facing Park Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,700 per sq.ft, the total guideline value amounts to Rs 97,00,000. The stamp duty, charged at 7%, would be Rs 6,79,000, and the registration fee at 2% would be Rs 1,94,000. Together, the total cost for these fees would be Rs 8,73,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers U.R. Nagar (Facing Park Road)?

The Sub Registrar Office that covers U.R. Nagar (Facing Park Road) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of U.R. Nagar (Facing Park Road)?

The current guideline value of U.R. Nagar (Facing Park Road) is Rs 9,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent revision in 2024 increasing it to Rs 9,700 per sq.ft from Rs 9,000 per sq.ft in 2023. The value was Rs 6,030 per sq.ft in 2017 and Rs 9,000 per sq.ft in 2012.

What is the classification of U.R. Nagar (Facing Park Road)?

U.R. Nagar (Facing Park Road) is classified as Residential Class I Type - II, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for U.R. Nagar (Facing Park Road)?

The stamp duty for a property valued at Rs 97,00,000 would be Rs 6,79,000, while the registration fee would be Rs 1,94,000, totaling Rs 8,73,000.

Which office handles registrations for U.R. Nagar (Facing Park Road)?

The Villivakkam Sub Registrar Office handles registrations for U.R. Nagar (Facing Park Road), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.