Guideline Value for Union Carbide Colony 12th Street

Union Carbide Colony 12th Street guideline value

The current guideline value of Union Carbide Colony 12th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Union Carbide Colony 12th Street has changed

Over the years, the guideline value for Union Carbide Colony 12th Street has undergone several revisions. The earliest recorded figure is from the 2012 revision, which was Rs 2,500 per sq.ft. In the 2017 revision, the value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The 2023 revision saw an increase to Rs 2,500 per sq.ft, followed by the current 2024 figure of Rs 2,700 per sq.ft, which is an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision reflects an increase of 8% in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Union Carbide Colony 12th Street.

• Union Carbide Colony 10th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 11th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 13th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 15th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 16th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total cost 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.

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

Which Sub Registrar Office covers Union Carbide Colony 12th Street?

The Sub Registrar Office that covers Union Carbide Colony 12th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property transaction occurs, 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 Union Carbide Colony 12th Street?

The current guideline value of Union Carbide Colony 12th Street 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 from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and is now Rs 2,700 per sq.ft in 2024.

What is the land classification for Union Carbide Colony 12th Street?

Union Carbide Colony 12th Street is classified as Residential Class I Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Union Carbide Colony 12th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.