Guideline Value for Highway

Highway guideline value

The current guideline value of Highway in Vallam village is Rs 601 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Highway has changed

The guideline value for Highway has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, where it also stood at Rs 600 per sq.ft. The next revision in 2024 saw a slight increase to Rs 601 per sq.ft, marking a change of 0% from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Looking back further, the 2017 revision recorded a significant increase to Rs 402 per sq.ft, which represented a 49% rise from the previous revision in 2012. However, the 2012 revision had seen a decrease of 33% from its earlier figure. Overall, from 2012 to 2024, the guideline value has shown no net change, remaining at Rs 600 per sq.ft for the most part before the slight increase in 2024.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Highway is notably above this median.

• Green Holiday Resorts: Rs 300 per sq.ft (2024)
• Gowtham Nagar Extn-IV: Rs 600 per sq.ft (2024)
• Gowtham Nagar: Rs 600 per sq.ft (2024)
• Jemi Housing VMR Nagar Phase 3: Rs 200 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Gandhi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Highway

For a 1,000 sq.ft plot at the current guideline value of Rs 601 per sq.ft, the total guideline value would be Rs 6,01,000. The stamp duty, charged at 7%, would amount to Rs 42,070, while the registration fee at 2% would be Rs 12,020. Together, the total cost for duty and registration would be Rs 54,090. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Highway?

The Highway property falls under the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is used by the Registration Department to calculate the applicable fees. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Highway?

The current guideline value of Highway in Vallam village is Rs 601 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions from Rs 600 per sq.ft in 2012 to Rs 600 per sq.ft in 2023, and then to Rs 601 per sq.ft in 2024. The 2017 revision was Rs 402 per sq.ft, showing a significant increase over the years.

What is the land classification for Highway?

Highway is classified as Commercial Class I Type - I under the current guidelines.

Where can I find the Sub Registrar Office for Highway?

The Sub Registrar Office covering Highway is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

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 Rs 601 per sq.ft, the stamp duty would be Rs 42,070.