Guideline Value for Udayar Street

Udayar Street guideline value

The current guideline value of Udayar Street in Ramapuram village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Udayar Street has changed

Over the years, the guideline value of Udayar Street has experienced several revisions. The 2012 revision set the value at Rs 1,750 per sq.ft, which was then revised to Rs 1,172 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,750 per sq.ft, and the latest 2024 revision raised it further to Rs 1,950 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From the 2017 revision to 2023, there was a significant increase of 49%, and the change from 2023 to 2024 reflects an increase of 11%. Overall, when comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing Udayar Street's 2024 figure below that median.

• Udayarkulam Street: Rs 1,950 per sq.ft (2024)
• Ulagathamman Koil Street: Rs 1,950 per sq.ft (2024)
• umadevai Street: Rs 1,950 per sq.ft (2024)
• Umargayam Street: Rs 1,950 per sq.ft (2024)
• Valluvar Salai: Rs 5,500 per sq.ft (2024)
• Tichu Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Udayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Udayar Street?

The Sub Registrar Office that covers Udayar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the sale price must meet or exceed the guideline value to avoid any discrepancies during registration. This ensures transparency in property transactions and helps maintain a standardized valuation system across the region.

Frequently asked questions

What is the current guideline value of Udayar Street?

The current guideline value of Udayar Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then increased to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification for Udayar Street?

Udayar Street is classified as Residential Class III Type - I.

Which Sub Registrar Office is responsible for Udayar Street?

The Chennai South Joint II Sub Registrar Office is responsible for Udayar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Udayar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 19,50,000, the stamp duty at 7% would be Rs 1,36,500.