Guideline Value for VALAMANA MUNIVAR STREET (KR)

Valamana Munivar Street (Kr) guideline value

The current guideline value of Valamana Munivar Street (Kr) in Sattamangalam 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 undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the guideline value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it saw a decrease of 33%. Overall, from 2012 to 2024, the value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 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 (Kr) 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 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, resulting in a total of Rs 59,400. 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 covering Valamana Munivar Street (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Sattamangalam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

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, marking a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012.

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

Valamana Munivar Street (Kr) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles the registration for Valamana Munivar Street (Kr)?

The Chengleput Joint II Sub Registrar Office handles the registration for Valamana Munivar Street (Kr), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.