Guideline Value for Udayar street

Udayar street guideline value

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

How the guideline value of Udayar street has changed

The guideline value for Udayar street has been revised multiple times 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, marking a 400% rise. However, it saw a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the current guideline value for Udayar street.

• Udayar street (sippai line): 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)
• Trunk road: Rs 4,950 per sq.ft (2024)
• Vaaniyaar street (west): Rs 2,200 per sq.ft (2024)
• Vaidthee avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Udayar street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Udayar street?

The Sub Registrar Office that covers Udayar street is 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 is a crucial factor during property registration in Poonthamallee. It serves as a benchmark for determining stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When buying or selling property, the guideline value can impact the overall transaction costs. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Udayar street?

The current guideline value of Udayar street 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 seen several revisions, increasing from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is a total increase of 450% over the years.

What are the stamp duty rates for property in Udayar street?

The stamp duty for property in Udayar street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Udayar street?

The registration for Udayar street is handled by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the median guideline value in Poonthamallee?

The median guideline value for streets in Poonthamallee is Rs 2,200 per sq.ft, which is the same as the current value for Udayar street.