Guideline Value for Usha Nagar 1st Street

Usha Nagar 1st Street guideline value

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

How the guideline value of Usha Nagar 1st Street has changed

The guideline value for Usha Nagar 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 318 per sq.ft. This figure increased to Rs 356 per sq.ft in 2003, marking a 12% rise. The value continued to grow significantly, reaching Rs 1,456 per sq.ft in 2007, which was an increase of 309%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, indicating no change from the previous year. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value for Usha Nagar 1st Street has increased by 1126%. The register has no figures for the years not explicitly mentioned in the revisions.

Guideline values in Ullagaram

In Ullagaram village, 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, with a median of Rs 2,800 per sq.ft. Usha Nagar 1st Street's 2024 figure is above this median.

• Usha Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Usha Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Usha Nagar Main: Rs 3,900 per sq.ft (2024)
• U V Sami nathan 1st Street: Rs 2,800 per sq.ft (2024)
• U V Sami nathan Street Extension: Rs 2,800 per sq.ft (2024)
• U V Samynathan 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Usha Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Usha Nagar 1st Street?

The Sub Registrar Office that covers Usha Nagar 1st Street 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 plays a crucial role in property transactions in Ullagaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is typically considered as a benchmark for assessing the transaction value. This ensures that the government receives the appropriate taxes based on the established guideline values.

Frequently asked questions

What is the current guideline value of Usha Nagar 1st Street?

The current guideline value of Usha Nagar 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 increased from Rs 318 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1126% over this period.

What is the land classification for Usha Nagar 1st Street?

Usha Nagar 1st Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.

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

Other streets in Ullagaram with a guideline value of Rs 3,900 per sq.ft include Usha Nagar 2nd Street, Usha Nagar 3rd Street, and Usha Nagar Main.

Where can I find the Sub Registrar Office for Usha Nagar 1st Street?

The Sub Registrar Office for Usha Nagar 1st Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.