Guideline Value for Udhayam Nagar 1st Street

Udhayam Nagar 1st Street guideline value

The current guideline value of Udhayam Nagar 1st Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

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

In the 2012 revision, the guideline value was Rs 1,100 per sq.ft. This value remained the same until the 2017 revision, where it decreased to Rs 737 per sq.ft. The following revision in 2023 saw a significant increase to Rs 1,100 per sq.ft, and the current 2024 revision further increased it to Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft, with a median value of Rs 1,200 per sq.ft. Udhayam Nagar 1st Street's 2024 figure matches this median.

• Udhayam Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 2nd Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 2nd Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar: Rs 1,200 per sq.ft (2024)
• Vanniyar Street: Rs 1,200 per sq.ft (2024)
• Sundaram Nagar: Rs 1,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, together totaling Rs 1,08,000. It is important to note that 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 information.

Which Sub Registrar Office covers Udhayam Nagar 1st Street?

The Sub Registrar Office that covers Udhayam Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Venkatapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties agree on a fair price for registration purposes. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Udhayam Nagar 1st Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

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

Udhayam Nagar 1st Street is classified as Residential Special Type - I.

Where can I find the registration office for Udhayam Nagar 1st Street?

The registration office for Udhayam Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Udhayam Nagar 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 12,00,000, the stamp duty at 7% would be Rs 84,000.