Guideline Value for NEW VALLI NAGAR

New Valli Nagar guideline value

The current guideline value of New Valli Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 550 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Valli Nagar has changed

Over the years, the guideline value of New Valli Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value rose to Rs 500 per sq.ft in the 2023 revision and has now increased to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value experienced a significant increase of 49%. In contrast, the period from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value for New Valli Nagar.

• N.T.R. Land: Rs 660 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 820 per sq.ft (2024)
• Om Velayutham Nagar: Rs 660 per sq.ft (2024)
• Nalli Nagar: Rs 550 per sq.ft (2024)
• Pari Nagar: Rs 660 per sq.ft (2024)
• Muthu Estate: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in New Valli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Valli Nagar?

The Sub Registrar Office that covers New Valli Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the correct amount based on the property's worth as per the guideline value register.

Frequently asked questions

What is the current guideline value of New Valli Nagar?

The current guideline value of New Valli Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and is now Rs 550 per sq.ft in 2024.

What is the median guideline value in Pammathukulam?

The median guideline value in Pammathukulam is Rs 550 per sq.ft, which is the same as the current value for New Valli Nagar.

What are the stamp duty and registration fees for a property in New Valli Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for New Valli Nagar located?

The Sub Registrar Office for New Valli Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.