Guideline Value for Udayar Palayam Velayutham Street (M.G.R.Nagar)

Udayar Palayam Velayutham Street (M.G.R.Nagar) guideline value

The current guideline value of Udayar Palayam Velayutham Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Udayar Palayam Velayutham Street (M.G.R.Nagar) has changed

The guideline value for Udayar Palayam Velayutham Street saw its first recorded figure in 2012, which was Rs 3,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Udayar Palayam Velayutham Street's 2024 figure is below this median.

• Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85: Rs 5,500 per sq.ft (2024)
• Vadhiyar Subbaraya Mudali Street (V.S.Mudali Street): Rs 5,500 per sq.ft (2024)
• Vadhiyar Subramaniyar Mudali Street Bk 80,84: Rs 5,500 per sq.ft (2024)
• Vadivel Naicken Street Block 78: Rs 4,400 per sq.ft (2024)
• Vadivelpuram Block 84, 85: Rs 4,100 per sq.ft (2024)
• Vadivelu Street Block 76: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Udayar Palayam Velayutham Street (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Udayar Palayam Velayutham Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Udayar Palayam Velayutham Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When selling a property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to understand the guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Udayar Palayam Velayutham Street (M.G.R.Nagar)?

The current guideline value of Udayar Palayam Velayutham Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10%. The value remained at Rs 3,000 per sq.ft from 2012 to 2023 and then rose to Rs 3,300 per sq.ft in 2024.

What is the land classification for Udayar Palayam Velayutham Street?

The land classification for Udayar Palayam Velayutham Street (M.G.R.Nagar) is Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Udayar Palayam Velayutham Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.