Guideline Value for Umapathi Nagar Extension

Umapathi Nagar Extension guideline value

The current guideline value of Umapathi Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Umapathi Nagar Extension has changed

The guideline value for Umapathi Nagar Extension has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, up from Rs 804 per sq.ft in the 2017 revision. Between 2017 and 2024, this marks an increase of 62%. However, the value saw a decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, a drop of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Umapathi Nagar Extension is below this median.

• Umapathi Nagar: Rs 1,300 per sq.ft (2024)
• Umapathy Nagar (Vinayagapuram): Rs 2,200 per sq.ft (2024)
• Umapathy Nagar (Ward-29): Rs 2,200 per sq.ft (2024)
• Udaiya Suriyan St (Ward No.18): Rs 1,300 per sq.ft (2024)
• Udaiyar Thottam 7th st (Ward No.17): Rs 1,600 per sq.ft (2024)
• Udaiyar Thottam 6th st (Ward No.17): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Umapathi Nagar Extension

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

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Umapathi Nagar Extension?

The Sub Registrar Office that covers Umapathi Nagar Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

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.

Frequently asked questions

What is the current guideline value of Umapathi Nagar Extension?

The current guideline value of Umapathi Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. This represents a 62% increase from 2017 to 2024 and an overall increase of 8% from 2012 to 2024.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with Umapathi Nagar Extension at Rs 1,300 per sq.ft. Other streets include Umapathy Nagar (Vinayagapuram) and Umapathy Nagar (Ward-29) at Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for Umapathi Nagar Extension?

For a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Umapathi Nagar Extension?

The Madhavaram Sub Registrar Office at No.7, Roja Nagar, Madhavaram, Chennai-600060 handles registrations for Umapathi Nagar Extension.