Guideline Value for VALLAL KUMANAN STREET (WARD -6)

Vallal Kumanan Street (Ward -6) guideline value

The current guideline value of Vallal Kumanan Street (Ward -6) is Rs 1,760 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 - III.

How the guideline value of Vallal Kumanan Street (Ward -6) has changed

The guideline value for Vallal Kumanan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft. This was followed by a significant increase to Rs 1,600 per sq.ft in the 2023 revision, and then a further increase to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from the 2012 revision to the 2024 revision reflects a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, 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 guideline value for the village is Rs 1,100 per sq.ft, making Vallal Kumanan Street's current figure above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Vallal Kumanan Street (Ward -6)?

The Chengleput Joint II Sub Registrar Office covers Vallal Kumanan Street (Ward -6). The office is 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 plays a crucial role during the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the fees are based on a fair assessment of the property's worth.

Frequently asked questions

What is the current guideline value of Vallal Kumanan Street?

The current guideline value of Vallal Kumanan Street (Ward -6) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase being from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024, representing a 10% rise.

What is the land classification for Vallal Kumanan Street?

The land classification for Vallal Kumanan Street (Ward -6) is Residential Special Type - III, indicating its intended use for residential purposes.

Where is the Chengleput Joint II Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty for properties in Ninna Karai is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees reflect the property's assessed value during registration.