Guideline Value for VALAYAPATHI STREET (WARD -8)

Valayapathi Street (Ward -8) guideline value

The current guideline value of Valayapathi Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Valayapathi Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent 2024 revision set the value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Valayapathi Street's 2024 value above this 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 1,320 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 Valayapathi Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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

Valayapathi Street (Ward -8) is covered by 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 information.

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

The guideline value is a critical factor in the registration process for property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures transparency and fairness in property transactions within the region.

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 1,320 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 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Valayapathi Street?

Valayapathi Street is classified as Residential Special Type - V, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Valayapathi Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Valayapathi Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Valayapathi Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.