Guideline Value for Udhayam Nagar

Udhayam Nagar guideline value

The current guideline value of Udhayam Nagar is Rs 720 per sq.ft, effective from 1 July 2024. It is located in Nandambakkam village under the Padappai SRO, classified as Residential Class III 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 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 650 per sq.ft in 2012, marking a 1200% rise. However, it then decreased to Rs 435 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 650 per sq.ft in 2023, and most recently, it has been revised to Rs 720 per sq.ft in 2024, reflecting an increase of 11% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1340%. The changes between the revisions indicate a fluctuating trend, with notable increases and decreases over the years, culminating in the current value of Rs 720 per sq.ft.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in the village is Rs 880 per sq.ft, placing Udhayam Nagar's 2024 figure below this median.

• Velan Nagar: Rs 720 per sq.ft (2024)
• Venkatasubramaniya Nagar: Rs 770 per sq.ft (2024)
• Thirumoorthy Nagar: Rs 770 per sq.ft (2024)
• Venkateswara Nagar: Rs 880 per sq.ft (2024)
• Thirumalai Nagar: Rs 880 per sq.ft (2024)
• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 720 per sq.ft, the guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, totaling Rs 64,800. It is important to note that the 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?

The Udhayam Nagar area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of the guideline value to avoid overpaying for a property and to ensure that all legal requirements are met during the transaction.

Frequently asked questions

What is the current guideline value of Udhayam Nagar?

The current guideline value of Udhayam Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 720 per sq.ft in 2024, marking a total increase of 1340% over the years.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft, with Udhayam Nagar's current value being below this median.

What is the registration fee for property in Udhayam Nagar?

The registration fee for property in Udhayam Nagar is calculated based on the guideline value, which is currently Rs 720 per sq.ft. For a 1,000 sq.ft plot, the total registration fee would be Rs 14,400.

Where can I find the Sub Registrar Office for Udhayam Nagar?

The Sub Registrar Office covering Udhayam Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.