Guideline Value for VALAYAPATHI STREET (WARD -8)

Valayapathi Street (Ward -8) guideline value

The current guideline value of Valayapathi Street (Ward -8) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Valayapathi Street (Ward -8) has changed

The guideline value for Valayapathi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision and further rose to Rs 1,321 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value rose by 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Valayapathi Street's 2024 figure above that median.

• Vallal Adhiyaman Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Valamana Munivar Street (Kr): Rs 660 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 Valayapathi Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, while the registration fee at 2% would be Rs 26,420. Together, the total fees would be Rs 1,18,890. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valayapathi Street (Ward -8)?

The Sub Registrar Office that covers Valayapathi Street (Ward -8) 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 is a crucial factor in property transactions in Ninna Karai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the law, providing a standardized framework for property transactions.

Frequently asked questions

What is the current guideline value of Valayapathi Street (Ward -8)?

The current guideline value of Valayapathi Street (Ward -8) is Rs 1,321 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 804 per sq.ft in 2017, then increased to Rs 1,200 in 2023, and finally to Rs 1,321 in 2024.

What is the land classification of Valayapathi Street (Ward -8)?

Valayapathi Street (Ward -8) is classified as Residential Special Type - V.

Where can I find the Sub Registrar Office for Valayapathi Street (Ward -8)?

The Sub Registrar Office for Valayapathi Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Valayapathi Street (Ward -8)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 92,470.