Guideline Value for Usha Nagar Main

Usha Nagar Main guideline value

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

How the guideline value of Usha Nagar Main has changed

The guideline value for Usha Nagar Main has seen several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 356 per sq.ft. This increased significantly to Rs 1,456 per sq.ft in 2007, marking a 309% rise. The value then jumped to Rs 3,500 per sq.ft in 2012, reflecting a 140% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The guideline value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in 2024, an 11% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 996%. It is noteworthy that there is no figure available for Usha Nagar Main in the 2002 revision.

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, with a median value of Rs 2,800 per sq.ft. The guideline value of Usha Nagar Main is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Usha Nagar Main?

The Sub Registrar Office that covers Usha Nagar Main 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 during the registration of property transactions in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Usha Nagar Main?

The current guideline value of Usha Nagar Main 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 changed from Rs 356 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 996% over this period.

What is the land classification of Usha Nagar Main?

Usha Nagar Main falls under the Residential Class I Type - III land classification.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

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