Guideline Value for Uthuman Road

Uthuman Road guideline value

The current guideline value of Uthuman Road in Pallipattu village, under the Adayar SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class IV Type - III.

How the guideline value of Uthuman Road has changed

The guideline value for Uthuman Road has seen several revisions over the years. Starting from Rs 369 per sq.ft in 2002, it increased to Rs 500 per sq.ft in 2003, marking a 36% rise. The value then surged by 200% to Rs 1,500 per sq.ft in 2007. Following this, in 2012, it rose to Rs 3,000 per sq.ft, reflecting a 100% increase. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which represents a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 794%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 9,400 per sq.ft. Uthuman Road's 2024 figure is below this median.

• Thiruvengadam Street: Rs 7,700 per sq.ft (2024)
• Venkatarathinam 1st Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 2nd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 3rd Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 4th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 5th Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Uthuman Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Uthuman Road?

The Sub Registrar Office that covers Uthuman Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Uthuman Road?

The current guideline value of Uthuman Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 369 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 794% over this period.

What are the other streets in Pallipattu with their guideline values?

Other streets in Pallipattu include Thiruvengadam Street at Rs 7,700 per sq.ft and several Venkatarathinam Cross Streets, all at Rs 9,400 per sq.ft.

What is the stamp duty rate applicable for properties in Uthuman Road?

The stamp duty rate applicable for properties in Uthuman Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Uthuman Road located?

The Sub Registrar Office for Uthuman Road is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.