Guideline Value for Union Carbide Colony 15th Street

Union Carbide Colony 15th Street guideline value

The current guideline value of Union Carbide Colony 15th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Union Carbide Colony 15th Street has changed

The guideline value for Union Carbide Colony 15th Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by 61%.

It is important to note that there are no figures available for the years 2012, 2007, 2003, and 2002 for Union Carbide Colony 15th Street. This lack of data means that the changes in the guideline value during those years are not documented.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 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, with the median value being Rs 2,700 per sq.ft. The guideline value for Union Carbide Colony 15th Street aligns with this median.

• Union Carbide Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 16th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 13th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 17th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 12th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 18th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 15th 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 cost for these charges to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details on costs.

Which Sub Registrar Office covers Union Carbide Colony 15th Street?

The Sub Registrar Office that covers Union Carbide Colony 15th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an essential factor in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the registration process. This helps in maintaining a standard across all property transactions within the region.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 15th Street?

The current guideline value of Union Carbide Colony 15th 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 increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 61% over this period.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles property registrations in this area?

The Madhavaram Sub Registrar Office is responsible for property registrations in Union Carbide Colony 15th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Union Carbide Colony 15th Street?

Union Carbide Colony 15th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.