Guideline Value for VALLAL MGR STREET (WARD -4)

Vallal Mgr Street (Ward -4) guideline value

The current guideline value of Vallal Mgr Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - III.

How the guideline value of Vallal Mgr Street (Ward -4) has changed

The guideline value for Vallal Mgr Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was later reduced to Rs 1,072 per sq.ft in the 2017 revision, marking a significant decrease of 33%. However, from 2017 to 2023, the value increased sharply by 49% to Rs 1,600 per sq.ft. The most recent revision in 2024 has further raised the guideline value to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vallal Mgr Street's 2024 figure above this median.

• Vallal Kumanan Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Began Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Vallalar Street (Ward -7): Rs 1,760 per sq.ft (2024)

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

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 to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

To calculate your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallal Mgr Street (Ward -4)?

The Sub Registrar Office covering Vallal Mgr 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 Kattankollatur

The guideline value is a crucial factor in the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency in property transactions and protects the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Vallal Mgr Street (Ward -4)?

The current guideline value of Vallal Mgr Street (Ward -4) 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 back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What other streets in Kattankollatur have similar guideline values?

Other streets in Kattankollatur under the Chengleput Joint II SRO include Vallal Kumanan Street and Vallal Ori Street, both valued at Rs 1,760 per sq.ft in 2024. Vallal Ori Cross Street and Vallal Kaari Street are valued at Rs 1,320 per sq.ft.

How is stamp duty calculated for properties in Vallal Mgr Street?

Stamp duty for properties in Vallal Mgr Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200.

Where can I find the Sub Registrar Office for Vallal Mgr Street?

The Sub Registrar Office for Vallal Mgr Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information through the provided link.