Guideline Value for Ulagappa Mesthri Street

Ulagappa Mesthri Street guideline value

The current guideline value of Ulagappa Mesthri Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ulagappa Mesthri Street has changed

The guideline value for Ulagappa Mesthri Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 100%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, showing a decline of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, and further rose to the current rate of Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for Ulagappa Mesthri Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, making Ulagappa Mesthri Street's current value below that median.

• Ullaramman Koil Street: Rs 1,600 per sq.ft (2024)
• Udaiyar Egappan Street: Rs 1,300 per sq.ft (2024)
• Vadivelu Street (Manikandan 9th Street): Rs 2,200 per sq.ft (2024)
• Vaidyanathan Street West [2]: Rs 4,400 per sq.ft (2024)
• Trichy Chinnaswamy Street: Rs 1,300 per sq.ft (2024)
• T.P.Scheme Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ulagappa Mesthri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ulagappa Mesthri Street?

The Sub Registrar Office that covers Ulagappa Mesthri Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must be aware that the guideline value will influence the overall costs involved in the transaction. This value is essential for calculating the applicable fees and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ulagappa Mesthri Street?

The current guideline value of Ulagappa Mesthri Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What are the guideline values of other streets in Tondaiarpet?

Other streets in Tondaiarpet have varying guideline values, with rates ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft.

What are the stamp duty and registration fees for properties in Ulagappa Mesthri Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for Ulagappa Mesthri Street?

The Royapuram Sub Registrar Office handles property registrations for Ulagappa Mesthri Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.