Guideline Value for Umayal Street

Umayal Street guideline value

The current guideline value of Umayal Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of Umayal Street has changed

The guideline value for Umayal Street has seen significant changes over the years. Starting from the 2007 revision, the value was Rs 3,000 per sq.ft. It increased dramatically to Rs 10,000 per sq.ft in the 2012 revision, marking a 233% rise. However, in 2017, the value dropped to Rs 6,700 per sq.ft, a decrease of 33%. The value then rose sharply to Rs 10,000 per sq.ft in 2023, followed by a further increase to Rs 11,000 per sq.ft in the 2024 revision, reflecting a 10% increase.

Between the 2017 and 2023 revisions, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Umayal Street's 2024 figure above this median.

• Vadiyanathan street: Rs 4,400 per sq.ft (2024)
• Transport Lane: Rs 3,900 per sq.ft (2024)
• T.P.Chatram: Rs 3,400 per sq.ft (2024)
• Valliammal street: Rs 13,400 per sq.ft (2024)
• Vannanthurai: Rs 3,400 per sq.ft (2024)
• Varadarajalu Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Umayal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. 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 further calculations.

Which Sub Registrar Office covers Umayal Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the transaction. Buyers and sellers should ensure that they are informed about the guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Umayal Street?

The current guideline value of Umayal Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 3,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the stamp duty for property in Umayal Street?

The stamp duty for property in Umayal Street is 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000.

Which Sub Registrar Office is responsible for Umayal Street?

The Periamet Sub Registrar Office is responsible for Umayal Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, with Umayal Street's 2024 figure of Rs 11,000 per sq.ft being above this median.