Guideline Value for U.R.NAGAR EXTENSION

U.R.Nagar Extension guideline value

The current guideline value for U.R.Nagar Extension, located 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 Extension has changed

The guideline value for U.R.Nagar Extension has undergone several revisions over the years. In 2003, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 1,650 per sq.ft in 2007, marking a change of +136%. The value then rose to Rs 6,000 per sq.ft in 2012, reflecting a substantial increase of +264%. However, it saw a decrease to Rs 4,020 per sq.ft in 2017, a drop of -33%. The value then increased to Rs 6,000 per sq.ft in 2023, followed by a further rise to Rs 6,600 per sq.ft in 2024, which is a +10% change.

Overall, from 2003 to 2024, the guideline value has increased by +843%. It is important to note that the register has no figure for U.R.Nagar Extension for the year 2002.

Guideline values in Padi

In Padi village, 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. The median guideline value in this area is Rs 3,800 per sq.ft, and the guideline value for U.R.Nagar Extension is above this median.

• U.R. Nagar (Facing Park Road): Rs 9,700 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 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty, charged at 7%, would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, these fees would total Rs 5,94,000. 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 detailed calculations.

Which Sub Registrar Office covers U.R.Nagar Extension?

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

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

The guideline value is a crucial factor in the registration of property transactions 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 buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for U.R.Nagar Extension 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 seen several revisions, increasing from Rs 700 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, marking an overall increase of +843% over this period.

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

For a property valued at Rs 66,00,000, the 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 property registrations in U.R.Nagar Extension?

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

How is the guideline value determined for properties in Padi?

The guideline value is determined by the Registration Department and is based on various factors including location and land classification. It serves as a minimum benchmark for property transactions in the area.