Guideline Value for Udaiyar Egappan Street

Udaiyar Egappan Street guideline value

The current guideline value of Udaiyar Egappan Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Udaiyar Egappan Street has changed

The guideline value for Udaiyar Egappan Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value saw a significant rise to Rs 1,200 per sq.ft in 2023, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 reflects a substantial increase of 117%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Udaiyar Egappan Street is below this median.

• Ulagappa Mesthri Street: Rs 1,300 per sq.ft (2024)
• Ullaramman Koil Street: Rs 1,600 per sq.ft (2024)
• Trichy Chinnaswamy Street: Rs 1,300 per sq.ft (2024)
• T.P.Scheme Road: Rs 1,300 per sq.ft (2024)
• Vadivelu Street (Manikandan 9th Street): Rs 2,200 per sq.ft (2024)
• Vaidyanathan Street West [2]: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Udaiyar Egappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. 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 detailed calculations.

Which Sub Registrar Office covers Udaiyar Egappan Street?

The Sub Registrar Office that covers Udaiyar Egappan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented officially and legally.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. This helps in establishing a fair basis for the transaction, as the fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Udaiyar Egappan Street?

The current guideline value of Udaiyar Egappan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,17,000, based on the guideline value of Rs 13,00,000.

Which office handles registrations for Udaiyar Egappan Street?

The Royapuram Sub Registrar Office handles registrations for Udaiyar Egappan Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Are there other streets with similar guideline values in Tondaiarpet?

Yes, other streets in Tondaiarpet such as Ulagappa Mesthri Street and Trichy Chinnaswamy Street also have a guideline value of Rs 1,300 per sq.ft in 2024.