Guideline Value for Udayarkulam Street

Udayarkulam Street guideline value

The current guideline value of Udayarkulam Street is Rs 1,950 per sq.ft. This street is located in Ramapuram village, under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Udayarkulam Street has changed

In the 2012 revision, the guideline value was set at Rs 1,750 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,172 per sq.ft, marking a decrease of 33%. The value increased to Rs 1,750 per sq.ft in the 2023 revision, followed by a rise to Rs 1,950 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

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

• Udayar 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 Udayarkulam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udayarkulam Street?

The Sub Registrar Office that covers Udayarkulam 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 details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Ramapuram, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legalizing the transaction.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements. This value helps in understanding the financial implications of the property transaction, including the costs associated with stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Udayarkulam Street?

The current guideline value of Udayarkulam 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 back to Rs 1,750 per sq.ft in 2023, and currently stands at Rs 1,950 per sq.ft in 2024.

What is the land classification for Udayarkulam Street?

The land classification for Udayarkulam Street is Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Udayarkulam Street?

The Sub Registrar Office for Udayarkulam Street is 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 Udayarkulam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,50,000, the stamp duty would be calculated at 7% of that amount.