Guideline Value for Rayappar Street

Rayappar Street guideline value

The current guideline value of Rayappar Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rayappar Street has changed

Over the years, the guideline value for Rayappar Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision saw a significant increase to Rs 134 per sq.ft, which was a 33% decrease from the previous figure. However, from 2017 to 2023, the value increased by 49% to Rs 200 per sq.ft, and this value has remained consistent through to the 2024 revision, reflecting a 0% change from 2023 to 2024.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Rayappar Street. This means that the earliest recorded figure is from 2012, which has fluctuated but ultimately returned to the same value by 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. The median value among these streets is Rs 200 per sq.ft, which is the same as the guideline value for Rayappar Street.

• Samayapurathamman Nagar: Rs 200 per sq.ft (2024)
• Saravanapuri Nagar: Rs 150 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Sowndari garden: Rs 600 per sq.ft (2024)
• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Rayappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rayappar Street?

The Sub Registrar Office that covers Rayappar Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Vallam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

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

Frequently asked questions

What is the current guideline value of Rayappar Street?

The current guideline value of Rayappar Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rayappar Street has remained at Rs 200 per sq.ft since 2012, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. The value has not changed from 2023 to 2024.

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

Other streets in Vallam include Samayapurathamman Nagar and Sivan Koil Street, both at Rs 200 per sq.ft, Saravanapuri Nagar at Rs 150 per sq.ft, Sowndari garden at Rs 600 per sq.ft, Sri Arabindo Nagar (Vasantham Nature City) at Rs 200 per sq.ft, and Sri Balaji Nagar at Rs 300 per sq.ft.

What is the stamp duty rate for properties in Rayappar Street?

The stamp duty rate for properties in Rayappar Street is 7% of the guideline value. This means that for a property valued at Rs 2,00,000, the stamp duty would amount to Rs 14,000.

Which office handles property registrations for Rayappar Street?

The Sriperumpudur Sub Registrar Office handles property registrations for Rayappar Street. The office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.