Guideline Value for Union Carbide Colony 14th Street

Union Carbide Colony 14th Street guideline value

The current guideline value of Union Carbide Colony 14th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Union Carbide Colony 14th Street has changed

The guideline value for Union Carbide Colony 14th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, marking a significant increase of 49% from the previous 2012 revision, which was Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has seen an increase of 8%. The changes reflect the fluctuations in property values in the area, with the 2012 to 2017 period showing a decrease of 33% before the subsequent increases in the following revisions.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for Union Carbide Colony 14th Street.

• Union Carbide Colony 11th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 12th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 13th 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)
• Union Carbide Colony 17th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 14th 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, making the total charges Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Union Carbide Colony 14th Street?

The Sub Registrar Office that covers Union Carbide Colony 14th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 14th Street?

The current guideline value of Union Carbide Colony 14th 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 2023 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification of Union Carbide Colony 14th Street?

Union Carbide Colony 14th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

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

Where can I find the Sub Registrar Office for Union Carbide Colony 14th Street?

The Madhavaram Sub Registrar Office covers Union Carbide Colony 14th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.