Guideline Value for Umamageshwari Nagar

Umamageshwari Nagar guideline value

The current guideline value of Umamageshwari Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this locality is Residential Class II Type - I.

How the guideline value of Umamageshwari Nagar has changed

The guideline value for Umamageshwari Nagar has experienced several revisions over the years. The earliest recorded figure is from 2002, which was Rs 235 per sq.ft. This value increased to Rs 255 per sq.ft in 2003, marking a rise of 9%. The subsequent revision in 2007 saw a significant jump to Rs 900 per sq.ft, reflecting an increase of 253%. In 2012, the value changed to Rs 2,500 per sq.ft, which was a notable rise of 178%. However, this was followed by a decline to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 61% from the previous figure.

It is important to note that there is no figure available for the year 2023 for this street in the register.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value of Umamageshwari Nagar below that median.

• United Colony 1st Street: Rs 3,300 per sq.ft (2024)
• United Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• United Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• United Colony 4th Street: Rs 3,300 per sq.ft (2024)
• United Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Unnamalai Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Umamageshwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Umamageshwari Nagar?

The Sub Registrar Office that covers Umamageshwari Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Kolathur, as it determines the stamp duty and registration fees applicable during the buying or selling process. When a property is registered, the guideline value is used to calculate these fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Umamageshwari Nagar?

The current guideline value of Umamageshwari Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 235 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1049% from 2002 to 2024.

What is the land classification for Umamageshwari Nagar?

Umamageshwari Nagar is classified as Residential Class II Type - I, indicating its primary use for residential purposes.

What are the stamp duty and registration fees for properties in Umamageshwari Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office for Umamageshwari Nagar located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers the registration for Umamageshwari Nagar.