Guideline Value for UMA MAHESWARI AVENUE

Uma Maheswari Avenue guideline value

The current guideline value of Uma Maheswari Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Uma Maheswari Avenue has changed

The guideline value for Uma Maheswari Avenue has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, which is equal to the current value for Uma Maheswari Avenue. Below are the guideline values for other streets in Sholinganallur - 1:

• Umapathi Lane: Rs 1,700 per sq.ft (2024)
• Uma Thottam: Rs 1,700 per sq.ft (2024)
• Ulaveethi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Ulaveethi Amman Koil 2nd Street: Rs 1,100 per sq.ft (2024)
• Ulaveethi Amman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Uratchi Ondirya School Street 1st Cross Street Extension: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Uma Maheswari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Uma Maheswari Avenue?

Uma Maheswari Avenue falls under 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 information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process for property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value when negotiating sale prices, as the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Uma Maheswari Avenue?

The current guideline value of Uma Maheswari Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is the same as the current value for Uma Maheswari Avenue.

What are the stamp duty and registration fees for a property in Uma Maheswari Avenue?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Uma Maheswari Avenue?

The Neelankarai Sub Registrar Office handles registrations for Uma Maheswari Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.