Guideline Value for Union Carbide Colony 8th Street

Union Carbide Colony 8th Street guideline value

The current guideline value of Union Carbide Colony 8th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Union Carbide Colony 8th Street has changed

The guideline value for Union Carbide Colony 8th Street has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This was followed by a decrease in the 2017 revision, where the value dropped to Rs 1,675 per sq.ft. However, the most recent 2024 revision has increased the guideline value to Rs 2,700 per sq.ft, marking a 61% increase from 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the changes are only reflected in the revisions from 2012, 2017, and 2024.

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 value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Union Carbide Colony 8th Street.

• Union Carbide Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 9th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 5th Cross Street Extension: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony 8th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Union Carbide Colony 8th Street?

The Sub Registrar Office that covers Union Carbide Colony 8th 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 during the registration process of property transactions in Kodungaiyur. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, which must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the guideline value is accurately reflected in the registration documents helps in avoiding any legal complications in the future.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 8th Street?

The current guideline value of Union Carbide Colony 8th 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. There are no figures for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for Union Carbide Colony 8th Street?

The land classification for Union Carbide Colony 8th Street is Residential Class I Type - I, indicating that it is primarily designated for residential use.

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

The Sub Registrar Office for Union Carbide Colony 8th Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration processes for properties in this area.

How is the stamp duty calculated for properties in Union Carbide Colony 8th Street?

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