Guideline Value for UMAIDURAI STREET

Umaidurai Street guideline value

The current guideline value of Umaidurai Street in Perungudi village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Umaidurai Street has changed

The guideline value for Umaidurai Street has undergone several revisions over the years. In 2002, the value was Rs 246 per sq.ft, which increased to Rs 278 per sq.ft in 2003, marking a 13% rise. The value saw a significant jump to Rs 600 per sq.ft in 2007, representing a 116% increase. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 400% rise from the previous revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,000 per sq.ft, which was a 49% rise. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1241%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Umaidurai Street.

• Umaidurai 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Umaidurai 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Varghees Plots Street: Rs 2,800 per sq.ft (2024)
• Thiruvenkadam Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar Ist Main Road: Rs 4,400 per sq.ft (2024)
• Thiruvenkadam Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Umaidurai Street

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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Umaidurai Street?

The Sub Registrar Office that covers Umaidurai Street is 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 Perungudi

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is documented at a value recognized by the government.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly affect the total cost of the transaction. Buyers and sellers should be aware of the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Umaidurai Street?

The current guideline value of Umaidurai Street 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 seen various changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% rise.

What is the land classification for Umaidurai Street?

Umaidurai Street is classified as Residential Class II Type - II, which influences its guideline value and potential uses.

Where can I find the Sub Registrar Office for Umaidurai Street?

The Sub Registrar Office for Umaidurai Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in Umaidurai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.