Guideline Value for UNIVESAL DIAMOND LAYOUT

Univesal Diamond Layout guideline value

The current guideline value of Univesal Diamond Layout, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Univesal Diamond Layout has changed

The guideline value for Univesal Diamond Layout has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,800 per sq.ft.

Notably, the changes between revisions were as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 12%. Overall, the guideline value has increased by 12% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Univesal Diamond Layout's 2024 figure above this median.

• Valmiki Street: Rs 2,800 per sq.ft (2024)
• Thuraikannu Lane: Rs 2,200 per sq.ft (2024)
• Thiruvengadam Garden: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 2,800 per sq.ft (2024)
• Thiruvalluvar Cross Street: Rs 2,800 per sq.ft (2024)
• VETTUVANKENI 1st AVENUE: Rs 4,500 per sq.ft (2024)

Stamp duty and registration fee for property in Univesal Diamond Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value is Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Univesal Diamond Layout?

The Univesal Diamond Layout 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 information.

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

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

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. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Univesal Diamond Layout?

The current guideline value of Univesal Diamond Layout is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Univesal Diamond Layout?

Univesal Diamond Layout is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 Univesal Diamond Layout?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 28,00,000 would incur a stamp duty of Rs 1,96,000.