Guideline Value for Ullagaram Puzhuthivakkam Link Road

Ullagaram Puzhuthivakkam Link Road guideline value

The current guideline value of Ullagaram Puzhuthivakkam Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Ullagaram Puzhuthivakkam Link Road has changed

The guideline value for Ullagaram Puzhuthivakkam Link Road has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 reflects a further increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, demonstrating significant growth in the guideline value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is the same as the current value for Ullagaram Puzhuthivakkam Link Road.

• Ullagaram Adithiravidar Colony Mayana Salai: Rs 2,750 per sq.ft (2024)
• Unnmai Nagar: Rs 1,650 per sq.ft (2024)
• Unnmai Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Unnmai Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• T.R.Balu Street: Rs 2,200 per sq.ft (2024)
• Vallal Athiyaman Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ullagaram Puzhuthivakkam Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ullagaram Puzhuthivakkam Link Road?

The Sub Registrar Office that covers Ullagaram Puzhuthivakkam Link Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

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

Frequently asked questions

What is the current guideline value of Ullagaram Puzhuthivakkam Link Road?

The current guideline value of Ullagaram Puzhuthivakkam Link Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 64% over this period.

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

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which office handles property registration in Ullagaram Puzhuthivakkam Link Road?

The Velacheri Sub Registrar Office handles property registration for Ullagaram Puzhuthivakkam Link Road, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties. It affects the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.