Guideline Value for Usha Nagar 3rd Street

Usha Nagar 3rd Street guideline value

The current guideline value of Usha Nagar 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Usha Nagar 3rd Street has changed

The guideline value for Usha Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 318 per sq.ft, which increased to Rs 356 per sq.ft in 2003, marking a 12% increase. The value then rose significantly to Rs 1,456 per sq.ft in 2007, representing a 309% increase. By 2012, the guideline value was Rs 3,500 per sq.ft, showing a substantial increase of 140% from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,345 per sq.ft, reflecting a drop of 33%. However, the value rebounded to Rs 3,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing Usha Nagar 3rd Street above this median.

• Usha Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Usha Nagar Main: Rs 3,900 per sq.ft (2024)
• Usha Nagar 1st Street: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be 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, bringing the total to 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 3rd Street?

The Sub Registrar Office that covers Usha Nagar 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Usha Nagar 3rd Street?

The current guideline value of Usha Nagar 3rd 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, representing an overall increase of 1126% over the years.

What is the land classification of Usha Nagar 3rd Street?

Usha Nagar 3rd Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in Usha Nagar 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, with stamp duty at Rs 2,73,000 and registration fees at Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Usha Nagar 3rd Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.