Guideline Value for VAKKAR ST

Vakkar St guideline value

The current guideline value of Vakkar St, located in Walajabad village, is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad SRO and is classified as Residential Class IV Type - I.

How the guideline value of Vakkar St has changed

The guideline value for Vakkar St has seen several revisions over the years. In 2012, the guideline value was set at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 750 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Vakkar St. Overall, from 2012 to 2024, the guideline value has remained stable, showing a net change of 0% during this period.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Vakkar St.

• Vaishnavi Nagar: Rs 400 per sq.ft (2024)
• Vadivel Nadar Nagar: Rs 750 per sq.ft (2024)
• Vadakku Puthu St: Rs 750 per sq.ft (2024)
• Vaanuvar St: Rs 750 per sq.ft (2024)
• Vallappakkam Road: Rs 750 per sq.ft (2024)
• Un Named Layout S.No:394/1,2, 395, 396/6a: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vakkar St

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. 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 Vakkar St?

The Vakkar St falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Vakkar St?

The current guideline value for Vakkar St is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vakkar St has remained at Rs 750 per sq.ft since 2012, dropped to Rs 502 per sq.ft in 2017, and then returned to Rs 750 per sq.ft in 2023. The 2024 revision maintains this value.

What is the land classification for Vakkar St?

Vakkar St is classified as Residential Class IV Type - I under the Walajabad SRO.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vakkar St?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.