Guideline Value for Udhayam Nagar

Udhayam Nagar guideline value

The current guideline value for Udhayam Nagar, located in Venkatapuram village under the Kunrathur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Udhayam Nagar has changed

The guideline value for Udhayam Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 53 per sq.ft, which increased to Rs 58 per sq.ft in 2003. Following this, there was a significant jump to Rs 250 per sq.ft in 2007, and the value further increased to Rs 1,100 per sq.ft in 2012. However, it then dropped to Rs 737 per sq.ft in 2017 before rising to Rs 1,100 per sq.ft again in 2023.

The most recent revision in 2024 has set the guideline value at Rs 1,200 per sq.ft, marking a 9% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 2,164%.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median guideline value for the village is Rs 1,200 per sq.ft, which is also the current value for Udhayam Nagar.

• Udhayam Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 1st Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 2nd Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 2nd Street: Rs 1,200 per sq.ft (2024)
• Vanniyar Street: Rs 1,200 per sq.ft (2024)
• Sundaram Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Udhayam Nagar?

The Sub Registrar Office that covers Udhayam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Udhayam Nagar?

The current guideline value for Udhayam Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 53 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 2,164% over this period.

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

Other streets in Venkatapuram that have a guideline value of Rs 1,200 per sq.ft in 2024 include Udhayam Nagar 1st Cross Street, Udhayam Nagar 1st Street, Udhayam Nagar 2nd Cross Street, Udhayam Nagar 2nd Street, Vanniyar Street, and Sundaram Nagar.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 12,00,000, the stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000.