Guideline Value for VALAMANA MUNIVAR STREET (KR)

Valamana Munivar Street (Kr) guideline value

The current guideline value of Valamana Munivar Street (Kr) in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Valamana Munivar Street (Kr) has changed

The guideline value for Valamana Munivar Street (Kr) has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a 33% decline. The value then increased significantly in the 2023 revision to Rs 600 per sq.ft, followed by a further increase to Rs 660 per sq.ft in 2024, reflecting a 10% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. 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 Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. Valamana Munivar Street's 2024 guideline value is below this median.

• Valayapathi Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Vallal Adhiyaman Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallalar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Vallal Began Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Kumanan Street (Ward -6): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Valamana Munivar Street (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total fees Rs 59,400. 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 Valamana Munivar Street (Kr)?

The Sub Registrar Office that covers Valamana Munivar Street (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the guideline value, as it serves as a benchmark for the transaction. The authorities will assess the property based on this value to ensure that the correct fees are applied during the registration process.

Frequently asked questions

What is the current guideline value of Valamana Munivar Street (Kr)?

The current guideline value of Valamana Munivar Street (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Valamana Munivar Street (Kr)?

Valamana Munivar Street (Kr) is classified as Residential Class I Type - III according to the guidelines set by the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is typically set at 7% of the guideline value, along with a registration fee of 2%.