Guideline Value for UDAYA KUMAR STREET

Udaya Kumar Street guideline value

The current guideline value of Udaya Kumar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Udaya Kumar Street has changed

The guideline value for Udaya Kumar Street has undergone several revisions since 2002. The 2002 revision recorded a guideline value of Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. The value then saw a further increase of 36% to reach Rs 500 per sq.ft in 2007. In 2012, the value was Rs 2,000 per sq.ft, reflecting a significant 300% increase from the previous revision. However, this was followed by a decrease of 33% to Rs 1,340 per sq.ft in 2017.

From 2017 to 2023, the guideline value rose by 49% to Rs 2,000 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 2,200 per sq.ft. There are no figures available for revisions in years not mentioned in the register.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Udaya Kumar Street's 2024 guideline value is below this median.

• Udaya Suriyan Nagar 10th Street: Rs 2,200 per sq.ft (2024)
• Udaya Suriyan Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Udaya Suriyan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Udaya Suriyan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Udaya Suriyan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Udaya Suriyan Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Udaya Kumar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udaya Kumar Street?

The Sub Registrar Office that covers Udaya Kumar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees applicable on the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the property is registered at a value that reflects its worth according to government standards.

Frequently asked questions

What is the current guideline value of Udaya Kumar Street?

The current guideline value of Udaya Kumar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 in 2002 to Rs 2,200 in 2024, reflecting an overall increase of 555% across the years.

What are the stamp duty rates for properties in Udaya Kumar Street?

The stamp duty rate for properties in Udaya Kumar Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Udaya Kumar Street?

The Purasaivakkam Sub Registrar Office is responsible for handling registrations for properties on Udaya Kumar Street.

How many streets in Perambur have a guideline value?

There are 1,114 streets in Perambur under the Purasaivakkam SRO that carry a guideline value for the year 2024.