Guideline Value for UDAYAM NAGAR

Udayam Nagar guideline value

The current guideline value of Udayam Nagar, located in Ponneri village under the Ponneri SRO, is Rs 700 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Udayam Nagar has changed

The guideline value for Udayam Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft. Then, in the 2024 revision, it increased significantly to Rs 700 per sq.ft, marking a change of +133% from the previous year.

This current figure of Rs 700 per sq.ft aligns with the median guideline value for the 120 streets in Ponneri under the Ponneri SRO, which ranges from Rs 201 to Rs 1,200 per sq.ft. The median value is also Rs 700 per sq.ft, indicating that Udayam Nagar's guideline value is consistent with the overall market in the area.

Guideline values in Ponneri

Ponneri village features a range of guideline values across its streets. With the 2024 revision, Udayam Nagar's guideline value of Rs 700 per sq.ft matches the median value in the area. Below is a list of other streets in Ponneri and their respective guideline values:

• Vallalar Street: Rs 700 per sq.ft (2024)
• Vaniamkulam Salai: Rs 700 per sq.ft (2024)
• Varadhappa Naickan St: Rs 900 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,200 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Udayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty, charged at 7%, would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Therefore, the total cost for these fees would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Udayam Nagar?

The Udayam Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information on other offices, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Ponneri. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees. This value is set by the government and can vary from one area to another.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings in Ponneri.

Frequently asked questions

What is the current guideline value of Udayam Nagar?

The current guideline value of Udayam Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 300 per sq.ft to Rs 700 per sq.ft, which is a change of +133%.

What classification does Udayam Nagar fall under?

Udayam Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

Which Sub Registrar Office covers Udayam Nagar?

The Ponneri Sub Registrar Office covers Udayam Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated in Udayam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.