Guideline Value for Usha Nagar Extn

Usha Nagar Extn guideline value

The current guideline value of Usha Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village under the Gooduvancheri SRO, classified as Residential Class I Type - I.

How the guideline value of Usha Nagar Extn has changed

The guideline value for Usha Nagar Extn has seen several revisions over the years. The 2007 revision set the value at Rs 328 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, in the 2017 revision, it dropped to Rs 804 per sq.ft before rising again to Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 266%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Usha Nagar Extn is below this median.

• Usha Nagar: Rs 1,200 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar: Rs 1,500 per sq.ft (2024)
• Thulukkanathamman Kovil Street: Rs 1,500 per sq.ft (2024)
• Valluvar Colony: Rs 1,200 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Usha Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Usha Nagar Extn?

The Usha Nagar Extn area falls under the Gooduvancheri Sub Registrar Office located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Usha Nagar Extn?

The current guideline value of Usha Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 328 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for a property in Usha Nagar Extn?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 12,00,000. The stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office covers Usha Nagar Extn?

The Gooduvancheri Sub Registrar Office covers Usha Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of Usha Nagar Extn?

Usha Nagar Extn is classified as Residential Class I Type - I, indicating its suitability for residential development.