Guideline Value for U.V. Saminathan 2nd Street

U.V. Saminathan 2nd Street guideline value

The current guideline value of U.V. Saminathan 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of U.V. Saminathan 2nd Street has changed

The guideline value for U.V. Saminathan 2nd Street has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in the 2024 revision. The changes between these revisions include a decrease of 33% from 2012 to 2017, a substantial increase of 49% from 2017 to 2023, and a 6% increase from 2023 to 2024.

The revisions for the years 2002, 2003, and 2007 do not have any figures listed for U.V. Saminathan 2nd Street in the register.

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 is Rs 2,150 per sq.ft, which means the 2024 guideline value of U.V. Saminathan 2nd Street is below this median.

• U.V. Saminathan 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. Please note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers U.V. Saminathan 2nd Street?

The U.V. Saminathan 2nd Street is covered by 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Rajakilpakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that both parties are paying the correct amount in taxes and fees based on the established values in the area.

Frequently asked questions

What is the current guideline value of U.V. Saminathan 2nd Street?

The current guideline value of U.V. Saminathan 2nd 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is now Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for U.V. Saminathan 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for U.V. Saminathan 2nd Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for U.V. Saminathan 2nd Street?

The land classification for U.V. Saminathan 2nd Street is Residential Class I Type - II, indicating its suitability for residential development.