Guideline Value for Uthucattan street

Uthucattan street guideline value

The current guideline value of Uthucattan street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Commercial Special Type - V.

How the guideline value of Uthucattan street has changed

Over the years, the guideline value of Uthucattan street has seen significant changes. The 2007 revision recorded a value of Rs 3,000 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, representing a 200% rise. However, in 2017, the value dropped to Rs 6,030 per sq.ft, marking a decrease of 33%. The subsequent increase to Rs 9,000 per sq.ft in 2023 reflected a rise of 49%. As of the 2024 revision, the guideline value stands at Rs 9,900 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for Uthucattan street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Uthucattan street's 2024 figure above the median.

• Varachithi Vinayagar Koil lane: Rs 6,000 per sq.ft (2024)
• Varachithi Vinayagar Koil street: Rs 6,000 per sq.ft (2024)
• Vathiyar Kandappa Pillai Street: Rs 6,000 per sq.ft (2024)
• Thulasi Naicken street: Rs 4,800 per sq.ft (2024)
• Thottikalai Kumarappa Mudali street: Rs 7,700 per sq.ft (2024)
• ThoppaiStreet: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Uthucattan street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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 information.

Which Sub Registrar Office covers Uthucattan street?

The Sub Registrar Office that covers Uthucattan street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vepery. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registers.

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

Frequently asked questions

What is the current guideline value of Uthucattan street?

The current guideline value of Uthucattan street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 3,000 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the guideline values of other streets in Vepery?

Other streets in Vepery have varying guideline values, with some streets like Varachithi Vinayagar Koil lane and street both at Rs 6,000 per sq.ft in 2024, while Thottikalai Kumarappa Mudali street is valued at Rs 7,700 per sq.ft.

What fees are associated with buying property in Uthucattan street?

When buying property in Uthucattan street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 8,91,000.

Which office handles registrations for Uthucattan street?

The Periamet Sub Registrar Office is responsible for handling registrations for Uthucattan street, located at 1103, Poonamallee High Road, Chennai-600 003.