Guideline Value for Udhayasuriyan Nagar

Udhayasuriyan Nagar guideline value

The current guideline value of Udhayasuriyan Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Udhayasuriyan Nagar has changed

The guideline value for Udhayasuriyan Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 35 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 471%. The value then saw a substantial increase to Rs 400 per sq.ft in 2012, which was a 100% increase from the previous revision. However, it dropped to Rs 268 per sq.ft in 2017, representing a decrease of 33%. The value then rose again to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1,157%. Notably, there is no figure available for Udhayasuriyan Nagar in the 2002 revision.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Udhayasuriyan Nagar's 2024 figure below that median.

• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 per sq.ft (2024)
• Thiruneelakandar fourth Part: Rs 660 per sq.ft (2024)
• Thiruneelagandan Nagar: Rs 440 per sq.ft (2024)
• V.G. Nagar: Rs 440 per sq.ft (2024)
• Vijai Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Udhayasuriyan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Udhayasuriyan Nagar?

The Sub Registrar Office that covers Udhayasuriyan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Grandlyon. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Udhayasuriyan Nagar?

The current guideline value of Udhayasuriyan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 35 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting a total increase of 1,157% over the years.

What is the land classification for Udhayasuriyan Nagar?

Udhayasuriyan Nagar is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Udhayasuriyan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property in Udhayasuriyan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.