Guideline Value for Union Carbide Colony 1st Street

Union Carbide Colony 1st Street guideline value

The current guideline value of Union Carbide Colony 1st 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 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This value decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. When considering the overall change from 2012 to 2024, the guideline value has increased by 8% since the 2012 revision.

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. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current guideline value for Union Carbide Colony 1st Street.

• Union Carbide Colony 20th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 19th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 18th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 22nd 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 1st 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 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Union Carbide Colony 1st Street?

The Sub Registrar Office covering Union Carbide Colony 1st 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 an essential factor during the registration of property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 1st Street?

The current guideline value of Union Carbide Colony 1st 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 seen several revisions: it was Rs 2,500 per sq.ft in 2012, decreased to Rs 1,675 per sq.ft in 2017, increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the other guideline values in Kodungaiyur?

In Kodungaiyur, the guideline values for various streets range from Rs 1,900 to Rs 4,000 per sq.ft, with a median of Rs 2,700 per sq.ft. Union Carbide Colony 1st Street aligns with this median value.

What fees are associated with buying property in Union Carbide Colony 1st Street?

When purchasing property, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the registration office for Union Carbide Colony 1st Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Union Carbide Colony 1st Street.