Guideline Value for Udayar street (sippai line)

Udayar street (sippai line) guideline value

The current guideline value of Udayar street (sippai line) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Udayar street (sippai line) has changed

The guideline value for Udayar street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and from 2012 to 2017, there was a decrease of 33%. The increase from 2007 to 2012 was a remarkable 400%. Overall, from 2007 to 2024, the guideline value has risen by 450%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Udayar street.

• Udayar street: Rs 2,200 per sq.ft (2024)
• Uppu kollai street: Rs 2,740 per sq.ft (2024)
• Uppukolliastreet: Rs 4,950 per sq.ft (2024)
• Vaaniyaar street (west): Rs 2,200 per sq.ft (2024)
• Trunk road: Rs 4,950 per sq.ft (2024)
• Vaidthee avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Udayar street (sippai line)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udayar street (sippai line)?

The Udayar street (sippai line) is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When a property is sold, the guideline value is used to assess the transaction's value for taxation purposes. This means that buyers and sellers must consider the guideline value to understand their financial obligations during the sale process.

Frequently asked questions

What is the current guideline value of Udayar street (sippai line)?

The current guideline value of Udayar street (sippai line) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall rise of 450% over the years.

What is the stamp duty for property in Udayar street (sippai line)?

The stamp duty for property in Udayar street is calculated at 7% of the guideline value. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What classification does Udayar street (sippai line) fall under?

Udayar street (sippai line) is classified as Residential Class II Type - I, which indicates its designation for residential use within the locality.