Guideline Value for Udhayam Nagar 2nd Street

Udhayam Nagar 2nd Street guideline value

The current guideline value of Udhayam Nagar 2nd Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Udhayam Nagar 2nd Street has changed

The guideline value for Udhayam Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the most recent 2024 revision has set it at Rs 1,200 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%. The change from 2023 to 2024 is an increase of 9%. Overall, the guideline value has increased by 9% from 2012 to 2024.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a guideline value for 2024, 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 2nd Street's 2024 figure aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to 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, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udhayam Nagar 2nd Street?

The Udhayam Nagar 2nd Street falls under 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 registering property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Udhayam Nagar 2nd Street?

The current guideline value of Udhayam Nagar 2nd 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 increased to Rs 1,100 per sq.ft in 2023, and is now Rs 1,200 per sq.ft in 2024.

What is the land classification for Udhayam Nagar 2nd Street?

Udhayam Nagar 2nd Street is classified as Residential Special Type - I.

Where is the Kunrathur Sub Registrar Office located?

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

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct amount is paid during the registration process.