Guideline Value for U.V. Saminathan 1st Street

U.V. Saminathan 1st Street guideline value

The current guideline value of U.V. Saminathan 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of U.V. Saminathan 1st Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,800 per sq.ft, followed by a further rise to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The increase from 2017 to 2023 was 49%, showcasing a notable change in the guideline values over these years.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing U.V. Saminathan 1st Street's 2024 figure below this median.

• U.V. Saminathan 2nd Street: Rs 1,900 per sq.ft (2024)
• Usha Avenue: Rs 880 per sq.ft (2024)
• Vakboard Colony: Rs 880 per sq.ft (2024)
• Valaiyapathy Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in U.V. Saminathan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to 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 information on costs associated with property transactions.

Which Sub Registrar Office covers U.V. Saminathan 1st Street?

The Sub Registrar Office that covers U.V. Saminathan 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally recognized.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a benchmark for property transactions within the locality.

Frequently asked questions

What is the current guideline value of U.V. Saminathan 1st Street?

The current guideline value of U.V. Saminathan 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,800 per sq.ft in 2012, dropping to Rs 1,206 per sq.ft in 2017, and rising back to Rs 1,900 per sq.ft in 2024.

What is the land classification for U.V. Saminathan 1st Street?

U.V. Saminathan 1st Street is classified as Residential Class I Type - II.

What are the registration fees for property in U.V. Saminathan 1st Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for U.V. Saminathan 1st Street?

The Selaiyur Sub Registrar Office handles registrations for U.V. Saminathan 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.