Guideline Value for UDHAYAN NAGAR

Udhayan Nagar guideline value

The current guideline value of Udhayan Nagar, located in Sivabootham village under the Chennai South Joint I SRO, is Rs 1,210 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Udhayan Nagar has changed

The guideline value for Udhayan Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 1,100 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 737 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,100 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Udhayan Nagar for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Udhayan Nagar's guideline value of Rs 1,210 per sq.ft is below this median.

• Teacher Colony Main Road: Rs 1,430 per sq.ft (2024)
• Teacher Colony 2nd Cross Street: Rs 1,430 per sq.ft (2024)
• Teacher Colony 1st Cross Street: Rs 1,430 per sq.ft (2024)
• Teacher Colony: Rs 1,430 per sq.ft (2024)
• 200 Feet Road: Rs 3,300 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udhayan Nagar?

The Sub Registrar Office that covers Udhayan Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Sivabootham. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Udhayan Nagar?

The current guideline value of Udhayan Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then up to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Udhayan Nagar?

Udhayan Nagar falls under the Residential Class III Type - I land classification.

Where can I find the registration office for Udhayan Nagar?

The registration office for Udhayan Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated in Udhayan Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the total fees would be Rs 1,08,900.