Guideline Value for Urban Edge Phase-II

Urban Edge Phase-II guideline value

The current guideline value of Urban Edge Phase-II is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Mevaloorkuppam B village under the Sriperumpudur SRO, classified as Residential Class I Type - III.

How the guideline value of Urban Edge Phase-II has changed

Over the years, the guideline value for Urban Edge Phase-II has seen several revisions. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show a value of Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024, marking a change of +10%.

The 2024 revision reflects the current market conditions, with the guideline value rising from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. This increase is significant in the context of the overall guideline values in the area.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Urban Edge Phase-II above this median.

• Urban Edge Phase - III: Rs 2,200 per sq.ft (2024)
• Vasan Nagar: Rs 400 per sq.ft (2024)
• Thiruvalluvar Street: Rs 300 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• VGP Industrial Form: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Urban Edge Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Urban Edge Phase-II?

The Urban Edge Phase-II falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mevaloorkuppam B. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that transactions are fairly assessed based on current market standards.

Frequently asked questions

What is the current guideline value of Urban Edge Phase-II?

The current guideline value of Urban Edge Phase-II is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Urban Edge Phase-II has increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% change.

What is the land classification for Urban Edge Phase-II?

Urban Edge Phase-II is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Urban Edge Phase-II?

The registration office covering Urban Edge Phase-II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Urban Edge Phase-II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.