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 Ninna Karai 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. In 2012, the value was set at Rs 1,600 per sq.ft, which remained unchanged until 2017 when it dropped to Rs 1,072 per sq.ft. This was a decrease of 33%. The value then increased significantly by 49% to Rs 1,600 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 1,760 per sq.ft, marking a 10% increase.

It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for Vallal Mgr Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village 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 1,321 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Began Street (Ward -6): Rs 1,321 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, calculated at 7%, would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Vallal Mgr Street (Ward -4) falls under 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 is a crucial factor in property transactions within Ninna Karai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction process.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vallal Mgr Street?

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 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 Mgr Street?

Vallal Mgr Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the other streets in Ninna Karai with similar guideline values?

Other streets in Ninna Karai include Vallal Kumanan Street and Vallal Ori Street, both at Rs 1,760 per sq.ft, while Vallal Ori Cross Street and Vallal Kaari Street are at Rs 1,321 per sq.ft.

Where can I find more information about the Chengleput Joint II SRO?

More information about the Chengleput Joint II SRO can be found at their office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, or you can find your SRO online.