Guideline Value for Union Carbide Colony 9th Street

Union Carbide Colony 9th Street guideline value

The current guideline value of Union Carbide Colony 9th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Union Carbide Colony 9th Street has changed

The guideline value for Union Carbide Colony 9th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 increased the guideline value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes between the revisions highlight the fluctuations in the guideline value, particularly the notable jump from 2017 to 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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 is the same as the 2024 figure for Union Carbide Colony 9th Street.

• Union Carbide Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 7th 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 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Thus, the total cost for these fees would be 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 9th Street?

The Sub Registrar Office that covers Union Carbide Colony 9th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

When buying or selling property in Kodungaiyur, the guideline value plays a crucial role during the registration process. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

The guideline value is updated periodically, reflecting changes in the real estate market. Buyers and sellers must be aware of these values to ensure compliance with legal requirements and to accurately calculate the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Union Carbide Colony 9th Street?

The current guideline value of Union Carbide Colony 9th 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, marking significant fluctuations in value.

What is the land classification for Union Carbide Colony 9th Street?

Union Carbide Colony 9th Street is classified under Residential Class I Type - I, indicating its designation for residential purposes.

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

The Madhavaram Sub Registrar Office covers Union Carbide Colony 9th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.