Guideline Value for UDHAYAM NAGAR

Udhayam Nagar guideline value

The current guideline value of Udhayam Nagar, located in Sathamai village under the Madurandakam SRO, is Rs 250 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - I land classification.

How the guideline value of Udhayam Nagar has changed

Over the years, the guideline value of Udhayam Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The 2024 revision maintains this value, showing a 0% change from the previous year.

It is important to note that the register has no figures for Udhayam Nagar for the years 2002, 2003, and 2007. Therefore, the most recent figures are from the 2012, 2017, 2023, and 2024 revisions.

Guideline values in Sathamai

In Sathamai village, there are 7 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value of Udhayam Nagar.

• Vallalar Nagar: Rs 250 per sq.ft (2024)
• Vallalar Nagar Extension: Rs 250 per sq.ft (2024)
• Subam Nagar: Rs 250 per sq.ft (2024)
• Serenity Garden: Rs 250 per sq.ft (2024)
• Madura Nagar Phase-I: Rs 500 per sq.ft (2024)
• Madura Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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 Sathamai

The guideline value plays a crucial role in property transactions in Sathamai. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. Buyers must ensure that the sale price is at least equal to the guideline value to avoid complications during registration.

When registering a property, the guideline value is used to calculate the applicable fees. This ensures transparency and fairness in the registration process, allowing both buyers and sellers to understand their financial obligations clearly.

Frequently asked questions

What is the current guideline value of Udhayam Nagar?

The current guideline value of Udhayam Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a drop to Rs 167 per sq.ft in 2017, followed by an increase back to Rs 250 per sq.ft in 2023. The 2024 revision maintains this value.

What is the land classification for Udhayam Nagar?

Udhayam Nagar falls under the Mixed Type - I land classification, which is relevant for determining the guideline value and property usage.

Where can I find the Sub Registrar Office for Udhayam Nagar?

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

How is stamp duty calculated for properties in Udhayam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at 7%.