Guideline Value for umadevai Street

umadevai Street guideline value

The current guideline value of umadevai Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of umadevai Street has changed

The guideline value for umadevai Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,750 per sq.ft. This figure remained the same in the 2017 revision, but in 2017, it decreased to Rs 1,172 per sq.ft. Following this, the value increased significantly to Rs 1,750 per sq.ft in the 2023 revision. The most recent revision in 2024 saw the guideline value rise to Rs 1,950 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 11%. Notably, there are no figures available for umadevai Street in the revisions from 2002, 2003, and 2007.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing umadevai Street's 2024 figure below the median.

• Ulagathamman Koil Street: Rs 1,950 per sq.ft (2024)
• Umargayam Street: Rs 1,950 per sq.ft (2024)
• Udayar Street: Rs 1,950 per sq.ft (2024)
• Udayarkulam Street: Rs 1,950 per sq.ft (2024)
• Valluvar Salai: Rs 5,500 per sq.ft (2024)
• Vanchinathan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in umadevai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, while the registration fee at 2% would be Rs 39,000. Together, the total cost for stamp duty and registration would be Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers umadevai Street?

The Sub Registrar Office that covers umadevai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more details, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration of property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is sold or bought, the guideline value helps in assessing the financial obligations that arise from the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of umadevai Street?

The current guideline value of umadevai Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,750 per sq.ft in 2012, decreasing to Rs 1,172 per sq.ft in 2017, and then increasing to Rs 1,750 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 1,950 per sq.ft.

What is the registration office for umadevai Street?

The registration office for umadevai Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in umadevai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,36,500 at a rate of 7%.

What are the other streets with the same guideline value in Ramapuram?

Other streets in Ramapuram with the same guideline value of Rs 1,950 per sq.ft in 2024 include Ulagathamman Koil Street, Umargayam Street, Udayar Street, and Udayarkulam Street.