Guideline Value for Union Carbide Colony Main

Union Carbide Colony Main guideline value

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

How the guideline value of Union Carbide Colony Main has changed

The guideline value for Union Carbide Colony Main has seen several revisions over the years. The register shows that in 2003, the guideline value was Rs 259 per sq.ft. This figure increased significantly to Rs 1,400 per sq.ft in 2007, marking a rise of 441%. The value then went up to Rs 3,500 per sq.ft in 2012, which was a 150% increase from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in 2024, representing an 11% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1406%. It is important to note that the register does not provide a figure for the year 2002 for this street.

Guideline values in Ullagaram

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

• Union Carbide Colony Extension: Rs 3,900 per sq.ft (2024)
• Union Carbidi colony Main Road: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Union Carbide Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Union carbide Colony 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony Main

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to 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 Main?

The Sub Registrar Office that covers Union Carbide Colony Main 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 in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of the transaction.

When a buyer or seller engages in a property transaction, the guideline value ensures that the government receives appropriate revenue from the sale. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Union Carbide Colony Main?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. Overall, the value has increased by 1406% from Rs 259 per sq.ft in 2003 to the current rate.

What are the registration fees for property in Union Carbide Colony Main?

For a property valued at Rs 39,00,000, the registration fees would include a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this area?

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

What is the land classification for Union Carbide Colony Main?

The land classification for Union Carbide Colony Main is Residential Class I Type - III, indicating its suitability for residential purposes.