Guideline Value for Usha Nagar

Usha Nagar guideline value

The current guideline value of Usha Nagar in Thodukadu village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Usha Nagar has changed

The guideline value for Usha Nagar has seen several revisions over the years. In 2007, the value was set at Rs 80 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 275% rise. However, between 2012 and 2017, the value decreased to Rs 201 per sq.ft, a decline of 33%. The value then increased again to Rs 300 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value rose by 49%, bringing it to Rs 300 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 275%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thodukadu

In Thodukadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. Usha Nagar's 2024 guideline value is below this median.

• Vayalur Road: Rs 300 per sq.ft (2024)
• Thiruvallur Main Road: Rs 500 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)
• Sri Ashok Nagar: Rs 500 per sq.ft (2024)
• Purushothaman Avenue: Rs 300 per sq.ft (2024)
• Pari Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Usha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Usha Nagar?

The Sub Registrar Office that covers Usha Nagar is 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 Thodukadu

The guideline value plays a crucial role during the registration process of property transactions in Thodukadu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Usha Nagar?

The current guideline value of Usha Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with significant changes in 2007, 2012, 2017, 2023, and 2024. The overall increase from 2007 to 2024 is 275%.

What is the land classification for Usha Nagar?

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

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

The Sub Registrar Office for Usha Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Usha Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 3,00,000, the total fees would amount to Rs 27,000.