Guideline Value for Udaya Nagar

Udaya Nagar guideline value

The current guideline value of Udaya Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Udaya Nagar has changed

The guideline value of Udaya Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 323 per sq.ft. This increased to Rs 358 per sq.ft in 2003, marking an 11% change. The 2007 revision saw a significant jump to Rs 1,250 per sq.ft, which was a 249% increase. In 2012, the value rose to Rs 3,200 per sq.ft, reflecting a 156% increase from the previous revision. However, in 2017, the value decreased to Rs 2,144 per sq.ft, a decline of 33%. The guideline value then increased to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 990%. There are no figures for the revisions in years other than those listed.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Udaya Nagar's 2024 figure below that median.

• Udaya Nagar 1st Street: 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

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 for these fees 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Udaya Nagar?

The Sub Registrar Office that covers Udaya Nagar is 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 in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which means that understanding the guideline value is essential for accurate financial planning in property transactions.

Frequently asked questions

What is the current guideline value of Udaya Nagar?

The current guideline value of Udaya Nagar 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 significantly from Rs 323 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 990% over this period.

What are the stamp duty and registration fees for property in Udaya Nagar?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400, and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office is responsible for Udaya Nagar?

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

Where can I find more information about the guideline values in Porur?

For more information about guideline values in Porur, you can refer to the registration department's guideline value register or consult the Kunrathur SRO.