Guideline Value for Udhayam Nagar Extn

Udhayam Nagar Extn guideline value

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

How the guideline value of Udhayam Nagar Extn has changed

The guideline value for Udhayam Nagar Extn has undergone several revisions over the years. The oldest registered figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease in 2017 to Rs 2,345 per sq.ft, marking a drop of 33%. The most recent revision in 2024 shows an increase to Rs 3,850 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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 in this area is Rs 4,400 per sq.ft, placing the 2024 guideline value of Udhayam Nagar Extn below this median.

• Udhayam Nagar Tneb Colony: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Bharani Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Udhayam Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Arumugam Nagar: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Annex Bharani Street: Rs 3,850 per sq.ft (2024)
• Udhayam Nagar Annex Amirtham Avenue: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar Extn

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, while the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Udhayam Nagar Extn?

The Udhayam Nagar Extn 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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Udhayam Nagar Extn?

The current guideline value of Udhayam Nagar Extn 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification of Udhayam Nagar Extn?

Udhayam Nagar Extn is classified as Residential Class II Type - III.

Where can I find the registration office for Udhayam Nagar Extn?

The registration office for Udhayam Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Udhayam Nagar Extn?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500 at the current guideline value.