Guideline Value for VALI HUSSAIN STREET

Vali Hussain Street guideline value

The current guideline value of Vali Hussain Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vali Hussain Street has changed

The guideline value for Vali Hussain Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 178%. However, this value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Vali Hussain Street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which aligns with the current guideline value of Vali Hussain Street.

• Vaikkakaran Street: Rs 6,000 per sq.ft (2024)
• Vallam Bangaru Chetty Street: Rs 6,000 per sq.ft (2024)
• Valliammal Street: Rs 8,800 per sq.ft (2024)
• Valluvan Street: Rs 6,000 per sq.ft (2024)
• Valluva Pandaram Street: Rs 5,500 per sq.ft (2024)
• Vada Malai Pillai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vali Hussain Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vali Hussain Street?

The Sub Registrar Office that covers Vali Hussain Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction is recorded accurately and that the fees are calculated fairly based on the property's value.

Frequently asked questions

What is the current guideline value of Vali Hussain Street?

The current guideline value of Vali Hussain Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What are the stamp duty rates for properties on Vali Hussain Street?

The stamp duty for properties on Vali Hussain Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vali Hussain Street located?

The Sub Registrar Office for Vali Hussain Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees that must be paid during the registration process. It is compared to the sale price to ensure that the correct fees are assessed.