Guideline Value for Union Carbide Colony 17th Street

Union Carbide Colony 17th Street guideline value

The current guideline value for Union Carbide Colony 17th 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 17th Street has changed

The guideline value for Union Carbide Colony 17th Street has seen 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% over the 2023 figure. The 2012 revision had a guideline value of Rs 2,500 per sq.ft, which was a decrease of 33% from the 2017 value.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, 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 for these streets is Rs 2,700 per sq.ft, which matches the 2024 figure for Union Carbide Colony 17th Street.

• Union Carbide Colony 16th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 18th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 15th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 19th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 14th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 13th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 17th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Union Carbide Colony 17th Street?

The Sub Registrar Office that covers Union Carbide Colony 17th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 17th Street?

The current guideline value of Union Carbide Colony 17th 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. The most recent revision in 2024 saw an increase of 8% from the previous year's value.

What is the land classification for Union Carbide Colony 17th Street?

Union Carbide Colony 17th Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,89,000.