Guideline Value for UMA GARDEN

Uma Garden guideline value

The current guideline value of Uma Garden in Chemmancheri village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Uma Garden has changed

The guideline value for Uma Garden has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 124%. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 65%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, making Uma Garden's 2024 figure of Rs 3,300 per sq.ft above the median.

• Vallabhai Patel Road: Rs 2,800 per sq.ft (2024)
• Time Of India: Rs 3,900 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Varadharaj Garden: Rs 1,100 per sq.ft (2024)
• Vedagiri Garden: Rs 1,100 per sq.ft (2024)
• Veerapandiya Kattapomman Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Uma Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Uma Garden?

Uma Garden falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value or the sale price is taken into account, whichever is higher, to calculate the applicable fees. This ensures that the registration process reflects the current market conditions and property valuations.

Frequently asked questions

What is the current guideline value of Uma Garden?

The current guideline value of Uma Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Uma Garden?

Uma Garden is classified as Residential Class I Type - II according to the local land classification guidelines.

What is the median guideline value in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, with Uma Garden's value being above this median.

Where can I find the Sub Registrar Office for Uma Garden?

The Sub Registrar Office covering Uma Garden is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.