Guideline Value for UTHANDI COLONY

Uthandi Colony guideline value

The current guideline value of Uthandi Colony, located in Uthandi village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Uthandi Colony has changed

Since the 2003 revision, the guideline value has seen significant changes. In 2003, the value was Rs 248 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a 102% rise. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase. However, it dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently to Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 585%. The register has no figure for the year 2002 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with the median being Rs 1,700 per sq.ft. Uthandi Colony's 2024 figure aligns with this median.

• Tranquil Phase-II: Rs 4,400 per sq.ft (2024)
• Tranquil Phase - I: Rs 4,200 per sq.ft (2024)
• Varathammal Thottam: Rs 1,100 per sq.ft (2024)
• Veerapathran Gopal Street: Rs 2,200 per sq.ft (2024)
• Veerapathran Street: Rs 2,200 per sq.ft (2024)
• Veerasamy Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Uthandi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Uthandi Colony?

The Sub Registrar Office that covers Uthandi Colony is 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 Uthandi

The guideline value plays a crucial role in property transactions in Uthandi Colony. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential costs in the transaction process. This ensures that the government receives appropriate revenue based on the property's assessed value.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the financial obligations during the registration of the property. Understanding these values can help in budgeting for the total costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Uthandi Colony?

The current guideline value of Uthandi Colony is Rs 1,700 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 248 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 585% over this period.

What are the other streets with their guideline values in Uthandi?

Other streets in Uthandi have varying guideline values, with Tranquil Phase-II at Rs 4,400 per sq.ft and Varathammal Thottam at Rs 1,100 per sq.ft, among others.

What fees are associated with property transactions in Uthandi Colony?

Property transactions in Uthandi Colony involve a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Uthandi Colony?

The Neelankarai Sub Registrar Office covers Uthandi Colony, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.