Guideline Value for U.V.Swaminathan Iyer Street

U.V.Swaminathan Iyer Street guideline value

The current guideline value of U.V.Swaminathan Iyer Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of U.V.Swaminathan Iyer Street has changed

The guideline value for U.V.Swaminathan Iyer Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017. The value then increased significantly to Rs 1,300 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 1,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. U.V.Swaminathan Iyer Street's 2024 figure of Rs 1,400 per sq.ft is below this median.

• Vaibhavs Murugan Enclave: Rs 2,700 per sq.ft (2024)
• Uma Nagar-Thirukural 1stStreet: Rs 1,400 per sq.ft (2024)
• Valmiki Sali: Rs 950 per sq.ft (2024)
• Thiru Vi.Ka 2nd Cross Street: Rs 1,400 per sq.ft (2024)
• Thiru.Ve.Ka Street: Rs 1,400 per sq.ft (2024)
• Thiru Ve.Ka Road: Rs 1,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, while the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers U.V.Swaminathan Iyer Street?

The U.V.Swaminathan Iyer Street falls under 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 Chembakkam

The guideline value serves as a benchmark for property transactions in Chembakkam. When registering a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the state.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of U.V.Swaminathan Iyer Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, reflecting an 8% increase. It was Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

What is the land classification of U.V.Swaminathan Iyer Street?

U.V.Swaminathan Iyer Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for U.V.Swaminathan Iyer Street?

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