Guideline Value for UDAYAM COLONY

Udayam Colony guideline value

The current guideline value of Udayam Colony, located in Villivakkam village under the Villivakkam SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Udayam Colony has changed

The guideline value for Udayam Colony has seen significant changes over the years. In 2002, the value was Rs 1,232 per sq.ft, which increased to Rs 1,405 per sq.ft in 2003, marking a 14% rise. The value further increased to Rs 1,750 per sq.ft in 2007, a 25% increase from the previous year. By 2012, the guideline value rose to Rs 12,000 per sq.ft, reflecting a substantial 586% increase from 2007. However, it then decreased by 33% to Rs 8,040 per sq.ft in 2017.

In 2023, the guideline value was Rs 12,000 per sq.ft, which saw a 49% increase to reach Rs 13,200 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 971%. There are no figures available for revisions in years not listed for this street.

Guideline values in Villivakkam

Villivakkam has a total of 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Udayam Colony's 2024 figure above this median.

• VAIGAI COLONY 1 to 7 STREET: Rs 9,800 per sq.ft (2024)
• Vallalar Kudiyiruppu: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 10th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 11th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 6th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 7th STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Udayam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 Udayam Colony?

The Sub Registrar Office that covers Udayam Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Villivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the agreed sale price.

Frequently asked questions

What is the current guideline value of Udayam Colony?

The current guideline value of Udayam Colony is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,232 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 971% over this period.

What are the stamp duty rates for property in Udayam Colony?

The stamp duty rate for property transactions in Udayam Colony is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value in Villivakkam?

The median guideline value for the 372 streets in Villivakkam is Rs 4,900 per sq.ft, with Udayam Colony's figure of Rs 13,200 per sq.ft being above this median.