Guideline Value for Ulagappa maistry street

Ulagappa maistry street guideline value

The current guideline value of Ulagappa maistry street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Special Type - I.

How the guideline value of Ulagappa maistry street has changed

The guideline value for Ulagappa maistry street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 4,000 per sq.ft. This increased to Rs 6,000 per sq.ft in 2012, a rise of 50%. However, it decreased to Rs 4,020 per sq.ft in 2017, marking a decline of 33%. The value then rose significantly to Rs 6,000 per sq.ft in 2023, reflecting a 49% increase. The current value of Rs 6,600 per sq.ft in 2024 represents a 10% increase from the previous year.

It is important to note that the guideline register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 65%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Ulagappa maistry street's value above this median.

• Vannara Street(WashermenStreet): Rs 3,300 per sq.ft (2024)
• Thulukkanam Street: Rs 2,500 per sq.ft (2024)
• Thiyagaraja Stret(Varadarajapuram): Rs 2,500 per sq.ft (2024)
• Vedariri Street(Maistry): Rs 4,400 per sq.ft (2024)
• Veeramman Koil Street: Rs 3,800 per sq.ft (2024)
• Venkatesa Gramani Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ulagappa maistry street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Ulagappa maistry street?

The Sub Registrar Office that covers Ulagappa maistry street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical reference point during property transactions in Chindadripet. It is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value for taxation purposes. This ensures transparency and fairness in the registration process, as it provides a clear framework for assessing property values.

Frequently asked questions

What is the current guideline value of Ulagappa maistry street?

The current guideline value of Ulagappa maistry street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various revisions occurring in between. The most significant increase was from 2017 to 2023, where it rose by 49%.

What is the classification of Ulagappa maistry street?

Ulagappa maistry street is classified as Residential Special Type - I. This classification can affect the guideline value and property regulations in the area.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Where can I find the Sub Registrar Office for Ulagappa maistry street?

The Sub Registrar Office for Ulagappa maistry street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.