Guideline Value for Udhayam Nagar Annex

Udhayam Nagar Annex guideline value

The current guideline value of Udhayam Nagar Annex is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under Velachery village and is classified as Residential Class II Type - III, managed by the Velacheri SRO.

How the guideline value of Udhayam Nagar Annex has changed

The guideline value for Udhayam Nagar Annex has undergone several revisions over the years. In the 2002 revision, the value was Rs 228 per sq.ft, which increased to Rs 256 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,800 per sq.ft in 2007, marking an increase of 603%. The 2012 revision brought the value to Rs 3,500 per sq.ft, which was a decrease of 33% from the previous figure. The 2017 revision saw it rise again to Rs 2,345 per sq.ft, and then it increased to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1589%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Velachery

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

• Udhayam Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Annex Amirtham Avenue: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Annex Bharani Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Arumugam Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar Annex

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 at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Udhayam Nagar Annex?

The Udhayam Nagar Annex falls under 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 plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Udhayam Nagar Annex?

The current guideline value of Udhayam Nagar Annex 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 changed significantly 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 period.

What is the land classification of Udhayam Nagar Annex?

Udhayam Nagar Annex is classified as Residential Class II Type - III, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Udhayam Nagar Annex?

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.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.