Guideline Value for UMAPATHY STREET

Umapathy Street guideline value

The current guideline value of Umapathy Street in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Umapathy Street has changed

The guideline value for Umapathy Street has seen significant changes over the years. In 2002, the value was Rs 1,160 per sq.ft, which increased to Rs 1,274 per sq.ft in 2003, marking a 10% rise. The value then rose to Rs 1,800 per sq.ft in 2007, reflecting a 41% increase. Following this, the value surged to Rs 6,500 per sq.ft in 2012, a substantial increase of 261%. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%. The value then increased again to Rs 6,500 per sq.ft in 2023, and finally reached Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 512%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Umapathy Street's 2024 figure above this median.

• Umapathi Street Extension: Rs 6,300 per sq.ft (2024)
• United India Colony 1st Cross Street: Rs 8,800 per sq.ft (2024)
• United India Colony 1st Main Road: Rs 8,200 per sq.ft (2024)
• United India Colony 2nd Cross Street: Rs 8,200 per sq.ft (2024)
• United India Colony 2nd Main Road: Rs 8,200 per sq.ft (2024)
• United India Colony 3rd Cross Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Umapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Umapathy Street?

The Sub Registrar Office that covers Umapathy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

When buying or selling property in Puliyur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

It is important to note that the guideline value may differ from the actual sale price of a property. Buyers and sellers should be aware that the stamp duty is levied on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Umapathy Street?

The current guideline value of Umapathy Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,160 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 512%.

What are the stamp duty and registration fees for property in Umapathy Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 6,39,000.

Which office handles registrations for Umapathy Street?

The Kodambakkam Sub Registrar Office handles registrations for Umapathy Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Umapathy Street?

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