Guideline Value for Union Carbide Colony 22nd Street

Union Carbide Colony 22nd Street guideline value

The current guideline value for Union Carbide Colony 22nd 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 22nd Street has changed

The guideline value for Union Carbide Colony 22nd Street has seen revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the value was Rs 2,500 per sq.ft, and it increased to Rs 2,700 per sq.ft in the 2024 revision, marking an increase of 8%.

As of the 2024 revision, the guideline value stands at Rs 2,700 per sq.ft. This reflects the most recent adjustment, aligning with the median value for the 1,318 streets in Kodungaiyur under the Madhavaram SRO, which ranges from Rs 1,900 to Rs 4,000 per sq.ft.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values for various streets vary significantly. The median value for the area is Rs 2,700 per sq.ft, which is the same as the current guideline value for Union Carbide Colony 22nd Street.

• Union Carbide Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 20th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 21st Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 19th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 22nd 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. Please note that the 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 22nd Street?

The Sub Registrar Office that covers Union Carbide Colony 22nd 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 when buying or selling property in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that both the buyer and seller comply with local regulations during the transaction.

Frequently asked questions

What is the current guideline value for Union Carbide Colony 22nd Street?

The current guideline value for Union Carbide Colony 22nd 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 for this street has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Union Carbide Colony 22nd Street?

Union Carbide Colony 22nd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

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.