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 Panangottur 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 undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft. In the following revision in 2017, the value decreased to Rs 1,072 per sq.ft, marking a decline of 33%. However, this was followed by a significant increase, as the 2023 revision raised the guideline value to Rs 1,600 per sq.ft, and the latest 2024 revision further increased it to Rs 1,760 per sq.ft, which is a rise of 10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, placing Vallal Kumanan Street's 2024 figure above that median.

• Vallal Kaari Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vallal Mgr Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Began Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,320 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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, while the registration fee at 2% would be Rs 35,200. Together, the total fees would be Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Vallal Kumanan Street (Ward -6) 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 details.

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

The guideline value is a critical factor when registering property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as per government regulations. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Vallal Kumanan Street (Ward -6)?

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 from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Vallal Kumanan Street?

The land classification for Vallal Kumanan Street is Residential Special Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office that covers Vallal Kumanan Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Vallal Kumanan Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current rate, the stamp duty would be Rs 1,23,200.