Guideline Value for VALAMANA MUNIVAR STREET (KR)

Valamana Munivar Street (Kr) guideline value

The current guideline value of Valamana Munivar Street (Kr) is Rs 661 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village under the Chengleput Joint II SRO and falls under the Residential Class I Type - III land classification.

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. The earliest available figure is from 2012, where the guideline value was Rs 600 per sq.ft. This value remained the same until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft, marking a -33% change. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 600 per sq.ft again. The most recent revision in 2024 has set the guideline value at Rs 661 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no available figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, positioning Valamana Munivar Street's 2024 figure below this median.

• 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 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty, charged at 7%, would amount to Rs 46,270, while the registration fee at 2% would be Rs 13,220. Together, the total cost for stamp duty and registration would be Rs 59,490. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value plays a crucial role in property transactions in Peramanoor. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

During the registration process, the guideline value serves as a benchmark for the valuation of the property. This ensures that the fees collected by the government reflect the current market rates, thus maintaining transparency in property transactions.

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 661 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 showing an increase to Rs 661 per sq.ft. The value was Rs 600 per sq.ft in 2023, Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012.

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

Other streets in Peramanoor have varying guideline values, with the highest being Rs 1,760 per sq.ft for Vallal Adhiyaman Street and Vallalar Street. Valamana Munivar Street's value is below the median of Rs 1,100 per sq.ft for the area.

Where can I find the Sub Registrar Office for this area?

The Chengleput Joint II Sub Registrar Office covers Valamana Munivar Street (Kr) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Valamana Munivar Street (Kr)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,61,000, the stamp duty at 7% would be Rs 46,270.