Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Valarpuram village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Commercial Special Type - I.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision marked a significant increase, raising the value to Rs 469 per sq.ft, reflecting a 33% decrease from the 2012 figure. Notably, the register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 700 per sq.ft. The current 2024 revision maintains this value, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value for Main Road has remained at Rs 700 per sq.ft.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value of Rs 700 per sq.ft for Main Road is above this median.

• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Kulakkarai Street: Rs 200 per sq.ft (2024)
• Muthamil Nagar: Rs 300 per sq.ft (2024)
• Karuneergar Street: Rs 200 per sq.ft (2024)
• Karumariamman Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Main Road?

The Sub Registrar Office covering Main Road 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 Valarpuram

The guideline value is a crucial factor in the registration process when buying or selling property in Valarpuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Main Road in Valarpuram?

The current guideline value of Main Road in Valarpuram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Main Road has remained at Rs 700 per sq.ft since 2012, with a significant increase from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007 for this street.

What is the land classification for Main Road?

Main Road is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Main Road?

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000, and the registration fee is Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Main Road located?

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