Guideline Value for Udhayam Nagar 2nd Street

Udhayam Nagar 2nd Street guideline value

The current guideline value of Udhayam Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

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

Since the 2002 revision, the guideline value of Udhayam Nagar 2nd Street has seen significant changes. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012, marking a substantial rise of 1435%. The value remained unchanged at Rs 3,500 per sq.ft until the 2023 revision, where it was updated to Rs 3,850 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1589%. The revisions for the years 2003, 2007, and 2017 do not have any figures recorded for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Udhayam Nagar 2nd Street's 2024 figure below that median.

• Udhayam Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Main Road, E.B Colony: Rs 4,400 per sq.ft (2024)
• Udhayam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 2nd Cross Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 jurisdiction of 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

When buying or selling property in Velachery, the guideline value is a crucial factor. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for duty calculations.

Understanding the guideline value is essential for both buyers and sellers, as it helps in determining the financial obligations during the registration process. It is advisable to check the latest guideline values to avoid any surprises during property transactions.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

Which Sub Registrar Office covers Udhayam Nagar 2nd Street?

The Velacheri Sub Registrar Office covers Udhayam Nagar 2nd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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.

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

Udhayam Nagar 2nd Street is classified as Residential Class II Type - III under the guideline value register.