Guideline Value for Udhayam Nagar Tneb Colony

Udhayam Nagar Tneb Colony guideline value

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

How the guideline value of Udhayam Nagar Tneb Colony has changed

The guideline value for Udhayam Nagar Tneb Colony has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 3,850 per sq.ft, marking a 64% rise from the 2017 figure.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, comparing the 2012 figure to the current 2024 value, there has been a modest increase of 10%. 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 a total of 2,691 streets listed 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 Udhayam Nagar Tneb Colony's 2024 figure below this median.

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

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, charged at 7%, would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these fees total 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Udhayam Nagar Tneb Colony?

The Sub Registrar Office that covers Udhayam Nagar Tneb Colony is 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 during property transactions in Velachery. It serves as the minimum value for which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller enters into a transaction, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Udhayam Nagar Tneb Colony?

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

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,500 per sq.ft to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. This reflects a 64% increase from the 2017 figure.

What are the other streets with the same guideline value in Velachery?

Other streets in Velachery with the same guideline value of Rs 3,850 per sq.ft in 2024 include Udhayam Nagar Extn, Udhayam Nagar Udhayam Nagar 5th Cross Street, Udhayam Nagar Bharani Street, Udhayam Nagar Arumugam Nagar, Udhayam Nagar Annex Bharani Street, and Udhayam Nagar Annex Amirtham Avenue.

What are the fees involved when buying property in Udhayam Nagar Tneb Colony?

When purchasing property in Udhayam Nagar Tneb Colony, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,46,500 in fees.

Where is the Sub Registrar Office located for Udhayam Nagar Tneb Colony?

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