Guideline Value for U.R.NAGAR / STREETS

U.R.Nagar / Streets guideline value

The current guideline value for U.R.Nagar / Streets in Padi village, under the Villivakkam SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of U.R.Nagar / Streets has changed

The guideline value for U.R.Nagar / Streets has seen several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 6,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. U.R.Nagar / Streets is above this median.

• U.R.Nagar 'rukmani Street': Rs 6,600 per sq.ft (2024)
• U.R. Nagar (Facing Park Road): Rs 9,700 per sq.ft (2024)
• U.R.Nagar Extension: 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 / Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Please note that 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.

Which Sub Registrar Office covers U.R.Nagar / Streets?

The U.R.Nagar / Streets area is covered by 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 is an important factor when registering property transactions in Padi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the stipulated legal requirements during the registration process.

When a property is sold, the guideline value helps determine the minimum value on which the stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the latest revisions.

Frequently asked questions

What is the current guideline value for U.R.Nagar / Streets?

The current guideline value for U.R.Nagar / Streets is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 6,000 per sq.ft in 2023 to Rs 6,600 per sq.ft in 2024. It was Rs 4,020 per sq.ft in 2017 and Rs 6,000 per sq.ft in 2012.

What is the land classification for U.R.Nagar / Streets?

U.R.Nagar / Streets falls under the Residential Class II Type - III land classification.

What are the stamp duty and registration fees for property in U.R.Nagar?

For a property valued at Rs 66,00,000, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for U.R.Nagar / Streets?

The Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for U.R.Nagar / Streets.