Guideline Value for UMARUPULAVAR STREET (WARD -6)

Umarupulavar Street (Ward -6) guideline value

The current guideline value of Umarupulavar Street (Ward -6) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, and the land classification is Residential Special Type - III.

How the guideline value of Umarupulavar Street (Ward -6) has changed

The guideline value for Umarupulavar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,600 per sq.ft. The most recent revision in 2024 has further increased this value to Rs 1,760 per sq.ft, a rise of 10% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing Umarupulavar Street's 2024 figure above the median.

• Union Salai, Peramnur (Ward -15): Rs 440 per sq.ft (2024)
• Unity Colony (Kr): Rs 990 per sq.ft (2024)
• Udaiyar Street (Ward -18): Rs 550 per sq.ft (2024)
• Udaiyar Street Ninnakkarai (Ward -19): Rs 660 per sq.ft (2024)
• Vaamana Munivar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vaanavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Umarupulavar Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, resulting in a total of Rs 1,58,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Umarupulavar Street (Ward -6)?

The Sub Registrar Office that covers Umarupulavar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Umarupulavar Street (Ward -6)?

The current guideline value of Umarupulavar Street (Ward -6) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024, marking a 10% increase. It was Rs 1,072 per sq.ft in 2017, which was a decrease from Rs 1,600 per sq.ft in 2012.

What is the land classification for Umarupulavar Street?

The land classification for Umarupulavar Street (Ward -6) is Residential Special Type - III.

What are the stamp duty rates applicable in Panangottur?

The stamp duty rate applicable in Panangottur is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price during property registration.

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

The Sub Registrar Office for Umarupulavar Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.