Guideline Value for Udhayam Nagar 1st Cross Street

Udhayam Nagar 1st Cross Street guideline value

The current guideline value of Udhayam Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Udhayam Nagar 1st Cross Street has changed

The guideline value for Udhayam Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded value was Rs 228 per sq.ft in 2002, which increased to Rs 256 per sq.ft in 2003, marking a change of +12%. The value saw a significant jump to Rs 1,800 per sq.ft in 2007, resulting in a remarkable increase of +603%. Following this, the value rose to Rs 3,500 per sq.ft in 2012, reflecting a change of +94%. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a +10% increase from the 2012 figure.

There are no figures available for the years 2017 and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1589%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 4,400 per sq.ft, placing Udhayam Nagar 1st Cross Street's 2024 figure below that median.

• Udhayam Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Main Road, E.B Colony: Rs 4,400 per sq.ft (2024)
• Udhayam Colony 4th street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty, calculated at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Udhayam Nagar 1st Cross Street?

The Udhayam Nagar 1st Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial obligations involved in property transactions. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Udhayam Nagar 1st Cross Street?

The current guideline value of Udhayam Nagar 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 228 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1589% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Udhayam Nagar 1st Cross Street?

The Velacheri Sub Registrar Office handles the registration for Udhayam Nagar 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Udhayam Nagar 1st Cross Street?

The land classification for Udhayam Nagar 1st Cross Street is Residential Class II Type - III.