Guideline Value for URATCHI ONDIRYA SCHOOL STREET 1ST CROSS STREET EXTENSION

Uratchi Ondirya School Street 1st Cross Street Extension guideline value

The current guideline value of Uratchi Ondirya School Street 1st Cross Street Extension is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Uratchi Ondirya School Street 1st Cross Street Extension has changed

The guideline value for Uratchi Ondirya School Street 1st Cross Street Extension has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent 2024 revision set the value at Rs 1,700 per sq.ft, marking a 13% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 69%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions highlight a substantial increase in the guideline value, particularly from 2017 to 2023, where it rose by 49%.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Uratchi Ondirya School Street 1st Cross Street Extension below this median.

• Uratchi Ondirya School Street Extension: Rs 1,700 per sq.ft (2024)
• Uma Thottam: Rs 1,700 per sq.ft (2024)
• Umapathi Lane: Rs 1,700 per sq.ft (2024)
• Uma Maheswari Avenue: Rs 2,200 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)

Stamp duty and registration fee for property in Uratchi Ondirya School Street 1st Cross Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Uratchi Ondirya School Street 1st Cross Street Extension?

The Sub Registrar Office that covers Uratchi Ondirya School Street 1st Cross Street Extension is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Uratchi Ondirya School Street 1st Cross Street Extension?

The current guideline value of Uratchi Ondirya School Street 1st Cross Street Extension is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, marking an overall increase of 69%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for this street?

The Neelankarai Sub Registrar Office handles registrations for Uratchi Ondirya School Street 1st Cross Street Extension, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value?

The guideline value is crucial for determining the stamp duty and registration fees during property transactions. It ensures that all transactions are conducted based on a standardized value, promoting transparency in the real estate market.