Guideline Value for VALAR GARDEN

Valar Garden guideline value

The current guideline value of Valar Garden, located in Perumbakkam village under the Selaiyur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under Residential Class III Type - I land classification.

How the guideline value of Valar Garden has changed

The guideline value for Valar Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 38%. The changes between the revisions highlight a substantial rise of 87% from 2017 to 2023, while the 2012 to 2017 period saw a decrease of 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Valar Garden's 2024 figure below this median.

• Vaidhiyalingam Salai: Rs 2,725 per sq.ft (2024)
• Urban Tree Oxygen: Rs 1,175 per sq.ft (2024)
• Valmigi Street: Rs 3,300 per sq.ft (2024)
• Vanchinathan Street: Rs 3,300 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Thiruvallur Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Valar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valar Garden?

The Sub Registrar Office that covers Valar Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential for buyers to be aware of this value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Valar Garden?

The current guideline value of Valar Garden is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 38% over this period.

What is the registration office for Valar Garden?

The registration office for Valar Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for property in Valar Garden?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

What are the guideline values of other streets in Perumbakkam?

Other streets in Perumbakkam have varying guideline values, with rates ranging from Rs 850 to Rs 4,800 per sq.ft. For example, Vaidhiyalingam Salai has a guideline value of Rs 2,725 per sq.ft.