Guideline Value for UDHAYAM NAGAR

Udhayam Nagar guideline value

The current guideline value of Udhayam Nagar is Rs 101 per sq.ft, effective from 1 July 2024. This area falls under Bathoor village and the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Udhayam Nagar has changed

Over the years, the guideline value of Udhayam Nagar has seen several revisions. The earliest recorded revision in 2012 set the guideline value at Rs 75 per sq.ft, which then decreased to Rs 50 per sq.ft in 2017. Following this, the value surged to Rs 100 per sq.ft in 2023, marking a significant increase of 100% from the 2017 revision. The most recent revision in 2024 raised the value slightly to Rs 101 per sq.ft, reflecting a 1% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Udhayam Nagar. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Bathoor

Udhayam Nagar's guideline value is positioned within the broader context of Bathoor's real estate market. The current guideline value for other streets in Bathoor under the Madurandakam SRO is as follows:

• Mks Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 101 per sq.ft, the guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total to Rs 9,090. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Udhayam Nagar?

The Sub Registrar Office that covers Udhayam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Bathoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, buyers and sellers must consider the guideline value, as it impacts the stamp duty and registration fees payable at the time of registration. This ensures that all transactions are conducted in accordance with the established legal framework.

Frequently asked questions

What is the current guideline value of Udhayam Nagar?

The current guideline value of Udhayam Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Udhayam Nagar?

For a property valued at Rs 1,01,000, the stamp duty is Rs 7,070 and the registration fee is Rs 2,020, totaling Rs 9,090.

Which Sub Registrar Office covers Udhayam Nagar?

The Madurandakam Sub Registrar Office covers Udhayam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the local authorities and serves as a benchmark for property registration. It ensures that all property transactions are conducted fairly and transparently, impacting the stamp duty and registration fees payable.