Guideline Value for VALLAL KAARI STREET (WARD -4)

Vallal Kaari Street (Ward -4) guideline value

The current guideline value of Vallal Kaari Street (Ward -4) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai 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 Vallal Kaari Street (Ward -4) has changed

The guideline value for Vallal Kaari Street has undergone several revisions over the years. The earliest recorded revision is from 2012, with a guideline value of Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,321 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a 10% increase. It is important to note that there are no recorded figures for Vallal Kaari Street in the revisions of 2002, 2003, and 2007.

Guideline values in Ninna Karai

Ninna Karai village has a total of 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 Vallal Kaari Street's 2024 figure above this median.

• Vallal Began Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Vallal Kumanan Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Vallalar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Vallal Mgr Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Kaari Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty, charged at 7%, would be Rs 92,470, while the registration fee at 2% would be Rs 26,420. The total cost for these fees together would be Rs 1,18,890. 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 Vallal Kaari Street (Ward -4)?

The Sub Registrar Office that covers Vallal Kaari Street (Ward -4) is 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 Ninna Karai

The guideline value plays a crucial role in property transactions within Ninna Karai. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered as a benchmark for assessing the property's worth. This ensures that the fees collected are based on a standardized value, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Vallal Kaari Street?

The current guideline value of Vallal Kaari Street (Ward -4) 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 2023 to Rs 1,321 per sq.ft in 2024, reflecting a 10% increase. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Vallal Kaari Street?

The land classification for Vallal Kaari Street (Ward -4) is Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,21,000 would incur a stamp duty of Rs 92,470 at a rate of 7%.