Guideline Value for Udhayam Nagar Arumugam Nagar

Udhayam Nagar Arumugam Nagar guideline value

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

How the guideline value of Udhayam Nagar Arumugam Nagar has changed

The guideline value for Udhayam Nagar Arumugam Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This figure remained the same in 2012 but dropped to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The current guideline value reflects a 10% increase from the previous year, 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median guideline value for these streets is Rs 4,400 per sq.ft, placing the 2024 figure for Udhayam Nagar Arumugam Nagar below this median.

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

Stamp duty and registration fee for property in Udhayam Nagar Arumugam Nagar

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 to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udhayam Nagar Arumugam Nagar?

The Udhayam Nagar Arumugam Nagar area 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Udhayam Nagar Arumugam Nagar?

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

How has the guideline value changed over the years?

Over the years, the guideline value has undergone several revisions, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024.

What is the stamp duty rate for property in Udhayam Nagar Arumugam Nagar?

The stamp duty for property transactions in Udhayam Nagar Arumugam Nagar is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for Udhayam Nagar Arumugam Nagar?

The Velacheri Sub Registrar Office handles registrations for Udhayam Nagar Arumugam Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Udhayam Nagar Arumugam Nagar?

The land classification for Udhayam Nagar Arumugam Nagar is Residential Class II Type - III, indicating its designation for residential use.