Guideline Value for Udaiyar Street

Udaiyar Street guideline value

The current guideline value of Udaiyar Street in Panchetty village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Commercial Class I Type - I.

How the guideline value of Udaiyar Street has changed

Since the 2007 revision, the guideline value for Udaiyar Street has seen an overall increase of 43%. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, this value dropped to Rs 670 per sq.ft in the 2017 revision before rising again to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the transition from 2012 to 2017 saw a decrease of 33%. The guideline value remained unchanged from 2023 to 2024, reflecting stability at Rs 1,000 per sq.ft during this period.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, which is equal to the current guideline value of Udaiyar Street.

• Thatchoor Udaiyar 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Udaiyar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor School Salai: Rs 1,000 per sq.ft (2024)
• Thatchoor Mettu Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony Main Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony Eswaran Koil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Udaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udaiyar Street?

The Sub Registrar Office that covers Udaiyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Panchetty. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Udaiyar Street?

The current guideline value of Udaiyar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing a value of Rs 1,000 per sq.ft for both 2023 and 2024. The value was Rs 670 per sq.ft in 2017 and Rs 700 per sq.ft in 2007.

What is the land classification of Udaiyar Street?

Udaiyar Street is classified as Commercial Class I Type - I under the current guidelines.

Where can I find the registration office for Udaiyar Street?

The registration office for Udaiyar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Udaiyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.