Guideline Value for Udhayam Avenue

Udhayam Avenue guideline value

The current guideline value of Udhayam Avenue, located in Mogalivakkam village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Udhayam Avenue has changed

Starting from the 2007 revision, the guideline value was Rs 750 per sq.ft. This figure saw a significant increase to Rs 2,600 per sq.ft in 2012, marking a rise of 247%. However, the value decreased to Rs 1,742 per sq.ft in 2017, representing a decline of 33%. The 2023 revision set the value at Rs 2,600 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,860 per sq.ft, reflecting a rise of 10%.

Overall, from 2007 to 2024, the guideline value has increased by 281%. The revisions for the years 2002 and 2003 do not have any figures recorded for Udhayam Avenue.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. Udhayam Avenue's 2024 guideline value is below this median.

• T.V.Nagar Extension: Rs 2,970 per sq.ft (2024)
• T.V.Nagar: Rs 2,970 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 2,860 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 2,860 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Thillai Nathamuni Avenue: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total charges Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Udhayam Avenue?

The Sub Registrar Office that covers Udhayam Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Mogalivakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring transparency in real estate transactions.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted at a fair and standardized value, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Udhayam Avenue?

The current guideline value of Udhayam Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, which is an overall increase of 281% over the years.

What are the other streets in Mogalivakkam with similar guideline values?

Other streets in Mogalivakkam with similar guideline values include T.V.Nagar Extension and T.V.Nagar, both at Rs 2,970 per sq.ft, and Thulukanathamman Koil Street, Thiruvalluvar Nagar, Vembadi Vinayakar Koil Street (V.V.K.S), and Thillai Nathamuni Avenue, all at Rs 2,860 per sq.ft.

How is the stamp duty calculated for properties in Udhayam Avenue?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200.

Where can I find the Sub Registrar Office for Udhayam Avenue?

The Sub Registrar Office for Udhayam Avenue is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information by visiting the relevant link.