Guideline Value for VALAMANA MUNIVAR STREET (KR)

Valamana Munivar Street (Kr) guideline value

The current guideline value of Valamana Munivar Street (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO, 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 undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase of 10% from the 2023 figure of Rs 600 per sq.ft. Prior to that, the guideline value was Rs 402 per sq.ft in 2017, marking a significant increase of 49% over the six-year period. In 2012, the value was Rs 600 per sq.ft, which was a decrease of 33% from the previous revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets stands at Rs 990 per sq.ft, placing Valamana Munivar Street (Kr) below this median at Rs 660 per sq.ft.

• Valayapathi Street (Ward -8): Rs 1,320 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 1,320 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,320 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further assistance.

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 Panangottur

The guideline value is a crucial factor when registering property in Panangottur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations of both parties involved in the transaction. Ensuring that the transaction is registered at the correct guideline value helps in maintaining transparency and compliance with local regulations.

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 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017, showing a 49% increase since then.

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

Valamana Munivar Street (Kr) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Valamana Munivar Street (Kr)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 46,200 and the registration fee is Rs 13,200, making a total of Rs 59,400.

Where can I find the Sub Registrar Office for Valamana Munivar Street (Kr)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration for properties in this area.