Guideline Value for Union Road

Union Road guideline value

The current guideline value of Union Road in Adayalampattu village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Union Road has changed

The guideline value for Union Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was later reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The most notable increase occurred from 2017 to 2023, where the value rose by 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayalampattu

In Adayalampattu, there are 19 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 3,850 per sq.ft. The median value is Rs 2,420 per sq.ft, which aligns with the current guideline value for Union Road.

• Vanagaram Ambattur Road: Rs 3,300 per sq.ft (2024)
• Sky City: Rs 3,300 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 2,420 per sq.ft (2024)
• Perumal Koil Street: Rs 2,420 per sq.ft (2024)
• Panajsalai Street: Rs 2,420 per sq.ft (2024)
• Padasalai Street (1-5 st): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Union Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees to Rs 2,17,800. 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 precise calculations.

Which Sub Registrar Office covers Union Road?

The Sub Registrar Office that covers Union Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adayalampattu. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration process adheres to the legal requirements set by the government.

When a buyer or seller engages in a property transaction, the guideline value will influence the stamp duty and registration fees payable. This ensures that both parties are aware of the financial implications of their transaction based on the established guideline values.

Frequently asked questions

What is the current guideline value of Union Road?

The current guideline value of Union Road in Adayalampattu is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Union Road?

For a property valued at Rs 24,20,000, the stamp duty at 7% is Rs 1,69,400 and the registration fee at 2% is Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers Adayalampattu?

The Chennai South Joint II Sub Registrar Office covers Adayalampattu, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Union Road?

Union Road is classified as Residential Class I Type - II, indicating its designation for residential use within the area.