Guideline Value for Union Carbide Colony 4th Street

Union Carbide Colony 4th Street guideline value

The current guideline value for Union Carbide Colony 4th 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 4th Street has changed

The guideline value for Union Carbide Colony 4th Street has seen revisions over the years. The earliest revision available is from 2012, where the guideline value was Rs 2,500 per sq.ft. The most recent revision, effective from 2024, increased this value to Rs 2,700 per sq.ft, marking an increase of 8% from the 2012 figure. Notably, there are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

In summary, the guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024. This increase reflects the adjustments made in the guideline values over the years, aligning with the overall trends in the Kodungaiyur area.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO with a 2024 guideline value range from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making the guideline value for Union Carbide Colony 4th Street equal to this median.

• Union Carbide Colony 5th Cross Street Extension: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 3rd Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 4th 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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Union Carbide Colony 4th Street?

The Sub Registrar Office that covers Union Carbide Colony 4th 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 plays a crucial role 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 guideline value is used to calculate the applicable taxes, ensuring that the government receives the correct revenue based on the property's assessed value. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Union Carbide Colony 4th Street?

The current guideline value for Union Carbide Colony 4th 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8% over this period. There are no figures available for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Union Carbide Colony 4th Street?

Union Carbide Colony 4th Street is classified as Residential Class I Type - I. This classification is important for determining the guideline value and applicable regulations.

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 calculated based on the guideline value or the sale price, whichever is higher.

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, including Union Carbide Colony 4th Street.