Guideline Value for Udhayakumar Nagar

Udhayakumar Nagar guideline value

The current guideline value of Udhayakumar Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Udhayakumar Nagar has changed

The guideline value for Udhayakumar Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,139 per sq.ft. This increased significantly to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, which is equal to the guideline value of Udhayakumar Nagar.

• Udhaya Nagar: Rs 2,530 per sq.ft (2024)
• Vaikundaperumal Koil Street: Rs 1,430 per sq.ft (2024)
• Thulasidoss Nagar: Rs 2,090 per sq.ft (2024)
• Thoppu Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuram: Rs 2,090 per sq.ft (2024)
• Vasanthapuram part III: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayakumar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Udhayakumar Nagar?

The Udhayakumar Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Mangadu -A, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the property transaction process. This value serves as a benchmark for assessing property prices in the area.

Frequently asked questions

What is the current guideline value of Udhayakumar Nagar?

The current guideline value of Udhayakumar Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in Udhayakumar Nagar?

The stamp duty is charged at 7% on the guideline value, and the registration fee is 2%. For a property valued at Rs 18,70,000, the total fees would be Rs 1,68,300.

Which Sub Registrar Office covers Udhayakumar Nagar?

The Kunrathur Sub Registrar Office covers Udhayakumar Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Udhayakumar Nagar?

Udhayakumar Nagar is classified as Residential Class I Type - I, indicating its primary use for residential purposes.