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 Panangottur village under the Chengleput Joint II SRO, and it is 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. This figure remained until the 2017 revision, which decreased the value to Rs 1,072 per sq.ft, marking a decline of 33%. In 2023, the value increased significantly to Rs 1,600 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Vallal Mgr Street's 2024 value 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 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 cost for these fees would be Rs 1,58,400. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers 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 details.

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

The guideline value plays a crucial role when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value as it directly impacts the overall cost of property registration.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is aligned with the official valuation set by the authorities.

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.

What are the other streets in Panangottur with their guideline values?

Other streets in Panangottur include Vallal Kumanan Street at Rs 1,760 per sq.ft, Vallal Ori Cross Street and Vallal Kaari Street both at Rs 1,320 per sq.ft, Vallal Ori Street at Rs 1,760 per sq.ft, and Vallal Began Street at Rs 1,320 per sq.ft.

What is the registration fee for property in Vallal Mgr Street?

The registration fee for property in Vallal Mgr Street is calculated based on the guideline value. For example, for a property valued at Rs 17,60,000, the registration fee would be Rs 35,200 at 2%.

Which office handles the registration for Vallal Mgr Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Vallal Mgr Street (Ward -4), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.