Guideline Value for Union carbide Colony 1st Street

Union carbide Colony 1st Street guideline value

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

How the guideline value of Union carbide Colony 1st Street has changed

The guideline value for Union carbide Colony 1st Street has undergone several revisions over the years. In 2002, the value was Rs 230 per sq.ft, which increased to Rs 258 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 1,400 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before increasing to Rs 3,500 per sq.ft again in 2023. As of the 2024 revision, the guideline value is Rs 3,900 per sq.ft.

Between the revisions, notable changes include a 12% increase from 2002 to 2003, a remarkable 443% rise from 2003 to 2007, and a 150% increase from 2007 to 2012. The value then saw a decrease of 33% from 2012 to 2017, followed by a significant 49% increase from 2017 to 2023. Finally, there was an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1596%.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Union carbide Colony 1st Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Union carbide Colony 1st Street

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, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Union carbide Colony 1st Street?

The Sub Registrar Office that covers Union carbide Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ullagaram. It is used to determine the stamp duty and registration fee that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is the basis for calculating these fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Union carbide Colony 1st Street?

The current guideline value of Union carbide Colony 1st Street 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 seen significant changes, increasing from Rs 230 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1596%.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,51,000.

Which office should I visit for property registration in Union carbide Colony 1st Street?

The Alandur Sub Registrar Office is responsible for property registrations in Union carbide Colony 1st Street. It is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Union carbide Colony 1st Street?

The land classification for Union carbide Colony 1st Street is Residential Class I Type - III.