Guideline Value for Union Carbide Colony 13th Street

Union Carbide Colony 13th Street guideline value

The current guideline value of Union Carbide Colony 13th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Union Carbide Colony 13th Street has changed

The guideline value for Union Carbide Colony 13th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, reflecting an 8% rise. Prior to that, the value was Rs 1,675 per sq.ft in 2017, showing a significant increase of 49% over the six years.

In earlier revisions, the guideline value was Rs 2,500 per sq.ft in 2012, which marked a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Union Carbide Colony 13th Street.

• Union Carbide Colony 12th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 11th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 15th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 10th 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 13th 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, and the registration fee at 2% would be Rs 54,000, bringing the total 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 Union Carbide Colony 13th Street?

The Sub Registrar Office that covers Union Carbide Colony 13th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO online.

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

The guideline value is a crucial factor during property registration in Kodungaiyur, as it determines the applicable stamp duty and registration fees. Buyers and sellers must be aware that the guideline value serves as a benchmark for the property transaction, ensuring that the fees are calculated based on a standardized value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Union Carbide Colony 13th Street?

The current guideline value for Union Carbide Colony 13th 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 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, with various revisions in between, including Rs 2,500 in 2023 and 2012.

What is the land classification for Union Carbide Colony 13th Street?

The land classification for Union Carbide Colony 13th Street is Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.