Guideline Value for VALLAKOTTAI MURUGAN STREET

Vallakottai Murugan Street guideline value

The current guideline value of Vallakottai Murugan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Vallakottai Murugan Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,800 per sq.ft, and further rose to Rs 1,980 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The 2024 figure is an overall increase of 10% from the 2012 value.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. The register has no figure for Vallakottai Murugan Street in the years 2002, 2003, and 2007.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. Vallakottai Murugan Street's current figure is below this median.

• Tiruvalluvar Nagar Main Road: Rs 3,080 per sq.ft (2024)
• Tiruvalluvar Nagar 5th Street: Rs 3,080 per sq.ft (2024)
• Thirvalluvar Nagar Main Road: Rs 3,080 per sq.ft (2024)
• Thiruvenkadamudaiyan Street: Rs 2,530 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 2,530 per sq.ft (2024)
• Vel Murugan Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vallakottai Murugan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vallakottai Murugan Street?

The Sub Registrar Office that covers Vallakottai Murugan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When a property is sold, the sale price is compared to the guideline value. The higher of the two is used to calculate the applicable duties and fees, ensuring compliance with local regulations and protecting both buyers and sellers in the transaction.

Frequently asked questions

What is the current guideline value of Vallakottai Murugan Street?

The current guideline value of Vallakottai Murugan Street is Rs 1,980 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 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Vallakottai Murugan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Vallakottai Murugan Street?

The land classification for Vallakottai Murugan Street is Residential Class II Type - I, indicating its suitability for residential development.