Guideline Value for U.V. Saminathan Street

U.V. Saminathan Street guideline value

The current guideline value of U.V. Saminathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

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

The guideline value for U.V. Saminathan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a 33% drop. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, placing U.V. Saminathan Street's 2024 figure below that median.

• Udayam Theru: Rs 1,980 per sq.ft (2024)
• Vallalar Street: Rs 2,640 per sq.ft (2024)
• Valmiki Street: Rs 2,310 per sq.ft (2024)
• Vanavil Avenue: Rs 3,960 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• Varadarasan Street: Rs 2,310 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers U.V. Saminathan Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these costs can significantly add to the overall expense of purchasing a property.

Additionally, the guideline value is regularly updated to reflect changes in the market and local conditions. It is essential for both buyers and sellers to stay informed about these values to ensure compliance with registration requirements and to understand the financial implications of their property transactions.

Frequently asked questions

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

The current guideline value of U.V. Saminathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, which is higher than the current value of U.V. Saminathan Street.

What are the stamp duty rates applicable?

The stamp duty for property transactions in U.V. Saminathan Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for U.V. Saminathan Street?

The Sub Registrar Office for U.V. Saminathan Street is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.