Guideline Value for Udaya Nagar 1st Street

Udaya Nagar 1st Street guideline value

The current guideline value of Udaya Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Udaya Nagar 1st Street has changed

The guideline value for Udaya Nagar 1st Street has seen several revisions over the years. In 2012, the value was Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then to Rs 3,520 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The jump from Rs 2,144 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2023 represents a substantial increase of 49%.

Guideline values in Porur

In Porur, there are a total of 530 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, making the current value for Udaya Nagar 1st Street below this median.

• Udaya Nagar: Rs 3,520 per sq.ft (2024)
• Udaya Nagar Extension: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar 1st Lane: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar 2nd Lane: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar 3rd Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Udaya Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost together to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Udaya Nagar 1st Street?

The Udaya Nagar 1st Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It is the benchmark used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The stamp duty and registration fees are calculated based on whichever amount is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Udaya Nagar 1st Street?

The current guideline value of Udaya Nagar 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the stamp duty rate for property in Udaya Nagar 1st Street?

The stamp duty rate for property transactions in Udaya Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Porur?

The median guideline value for the 530 streets in Porur under the Kunrathur SRO is Rs 3,960 per sq.ft, which is above the current value of Udaya Nagar 1st Street.