Guideline Value for Union Carbide Colony

Union Carbide Colony guideline value

The current guideline value for Union Carbide Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Union Carbide Colony has changed

The guideline value for Union Carbide Colony has seen several revisions over the years. In 2003, the value was Rs 191 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2007. The 2012 revision brought the value back up to Rs 2,000 per sq.ft, but it then dropped to Rs 1,340 per sq.ft in 2017. The most recent revisions show a rise to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,160 per sq.ft in 2024.

Examining the percentage changes, the value increased by 293% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an 8% increase. Overall, from 2003 to 2024, the guideline value has risen by 1,031%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value of Union Carbide Colony below that median.

• Union Carbide Colony 1 To 4 Cross Street: Rs 2,160 per sq.ft (2024)
• Union Carbide Colony 1 To 4 Main Road: Rs 2,160 per sq.ft (2024)
• Tvs Emerald: Rs 4,400 per sq.ft (2024)
• T.S. Lakshmanan Nagar 2nd Street (Near Thiruneer Malai Road): Rs 3,300 per sq.ft (2024)
• T.S. Lakshmanan Nagar 1st Street (Near Thiruneer Malai Road): Rs 3,300 per sq.ft (2024)
• T.S.Lakshmanan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Union Carbide Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. 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?

The Sub Registrar Office that covers Union Carbide Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Zaminpallavaram, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. The guideline value serves as a reference point for the transaction and is used by the registration office to assess the applicable charges.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of property transactions. Ensuring that the sale price meets or exceeds the guideline value can help avoid any complications during the registration process.

Frequently asked questions

What is the current guideline value of Union Carbide Colony?

The current guideline value of Union Carbide Colony is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 191 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1,031% over this period.

What are the other streets in Zaminpallavaram with similar guideline values?

Other streets in Zaminpallavaram include Union Carbide Colony 1 To 4 Cross Street and Union Carbide Colony 1 To 4 Main Road, both valued at Rs 2,160 per sq.ft in 2024.

What fees are associated with buying property in Union Carbide Colony?

When purchasing property in Union Carbide Colony, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Union Carbide Colony?

The Sub Registrar Office for Union Carbide Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.