Guideline Value for Union Carbide Colony 2nd Street

Union Carbide Colony 2nd Street guideline value

The current guideline value of Union Carbide Colony 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Union Carbide Colony 2nd Street has changed

The guideline value for Union Carbide Colony 2nd Street has undergone several revisions over the years. Starting from the earliest record in 2002, the value was Rs 230 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a 12% rise. The value saw a substantial increase to Rs 1,400 per sq.ft in 2007, which was a significant jump of 443%. In 2012, the value remained at Rs 3,500 per sq.ft, indicating no figure was recorded for this street during that revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. The value then climbed to Rs 3,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1596%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Union Carbide Colony 2nd Street is above this median.

• Union Carbide Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony Extension: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony Main: Rs 3,900 per sq.ft (2024)
• Union Carbidi colony Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration fee would be Rs 3,51,000. 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 2nd Street?

The Sub Registrar Office that covers Union Carbide Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ullagaram. It serves as a benchmark for determining the registration fees and stamp duty payable during the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 2nd Street?

The current guideline value of Union Carbide Colony 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 230 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is a total increase of 1596%.

What is the land classification for Union Carbide Colony 2nd Street?

Union Carbide Colony 2nd Street falls under the Residential Class I Type - III land classification.

Where can I find the Sub Registrar Office for this area?

The Alandur Sub Registrar Office covers Union Carbide Colony 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000.