Guideline Value for ULAGATHAMMAN KOIL STREET

Ulagathamman Koil Street guideline value

The current guideline value of Ulagathamman Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village under the Chennai South Joint II SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Ulagathamman Koil Street has changed

The guideline value for Ulagathamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 245 per sq.ft, which increased to Rs 304 per sq.ft in 2003, marking a 24% rise. The value continued to climb significantly to Rs 900 per sq.ft in 2007, reflecting a 196% increase. By 2012, the guideline value was Rs 1,750 per sq.ft, which was a 94% increase from the previous revision. However, this figure dropped to Rs 1,172 per sq.ft in 2017, indicating a decrease of 33% before rising again to Rs 1,750 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,950 per sq.ft, a rise of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 696%. There are no figures for the years not mentioned in the register for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Ulagathamman Koil Street's 2024 figure is below this median.

• Umadevai Street: Rs 1,950 per sq.ft (2024)
• Umargayam Street: Rs 1,950 per sq.ft (2024)
• Udayar Street: Rs 1,950 per sq.ft (2024)
• Udayarkulam Street: Rs 1,950 per sq.ft (2024)
• Valluvar Salai: Rs 5,500 per sq.ft (2024)
• Vanchinathan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ulagathamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ulagathamman Koil Street?

The Ulagathamman Koil Street falls under the Chennai South Joint II 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 Ramapuram

The guideline value is a crucial factor when it comes to registering property in Ramapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction. It helps in assessing the value of the property for taxation purposes, ensuring that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Ulagathamman Koil Street?

The current guideline value of Ulagathamman Koil Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2002 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 696% over the years.

What is the stamp duty for property in Ulagathamman Koil Street?

The stamp duty for a property in Ulagathamman Koil Street is 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500.

Where can I find the Sub Registrar Office for Ulagathamman Koil Street?

The Sub Registrar Office covering Ulagathamman Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Ulagathamman Koil Street?

Ulagathamman Koil Street is classified as Residential Class III Type - I under the Chennai South Joint II SRO.