Guideline Value for USMAN ROAD (PART III NAGESWARA RAO ROAD TO KODAMBAKKAM HIGH ROAD)

Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) guideline value

The current guideline value of Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) is Rs 27,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO, with a land classification of Commercial Special Type - I.

How the guideline value of Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) has changed

The guideline value for Usman Road has seen several revisions over the years. In 2002, the value was Rs 4,284 per sq.ft, which increased to Rs 4,755 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 12,000 per sq.ft in 2007, a change of 152%. Following that, the value increased to Rs 25,000 per sq.ft in 2012, which was a rise of 108%. However, it decreased to Rs 16,750 per sq.ft in 2017, reflecting a decline of 33%. The value then climbed to Rs 25,000 per sq.ft in 2023, with a substantial increase of 49%, before reaching the current figure of Rs 27,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 542%. There are no figures available for any revisions other than those mentioned for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) above this median.

• Usman Road (Part II Bus Stand To Pangal Park): Rs 27,500 per sq.ft (2024)
• Usman Road (Part I New Boag Road To Bus Stand): Rs 27,500 per sq.ft (2024)
• Unnamalai Ammal Street: Rs 14,300 per sq.ft (2024)
• Vaidyaraman Street: Rs 14,300 per sq.ft (2024)
• Valmiki Street: Rs 14,300 per sq.ft (2024)
• Varadaraja Mudali Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 27,500 per sq.ft, the total guideline value would be Rs 2,75,00,000. The stamp duty at 7% would amount to Rs 19,25,000, and the registration fee at 2% would be Rs 5,50,000, bringing the total to Rs 24,75,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road)?

The Sub Registrar Office that covers Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official value set by the Registration Department.

When a property is registered, the guideline value is used to determine the applicable fees, which are calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road)?

The current guideline value of Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) is Rs 27,500 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 4,284 per sq.ft in 2002 to Rs 27,500 per sq.ft in 2024, reflecting an overall increase of 542% over the years.

What is the land classification for Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road)?

The land classification for Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road) is Commercial Special Type - I.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,75,00,000, the stamp duty would be calculated at 7% of this amount.