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 Sattamangalam village 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 then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,760 per sq.ft as of the 2024 revision. The changes between these revisions are notable, with a 33% decrease from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a further 10% increase from 2023 to 2024.

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

Guideline values in Sattamangalam

In Sattamangalam, there are 425 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 value 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, totaling Rs 1,58,400. It is important to note that 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 details.

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

The Vallal Mgr Street (Ward -4) is covered by 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 Sattamangalam

The guideline value plays a crucial role in the registration process of property transactions in Sattamangalam. 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 a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as per the official guidelines.

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 increased to Rs 1,600 per sq.ft in 2023, and is currently Rs 1,760 per sq.ft as of 2024.

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

Other streets in Sattamangalam 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, and Vallal Ori Street at Rs 1,760 per sq.ft.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,23,200 at a 7% rate.

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

The Chengleput Joint II Sub Registrar Office covers Vallal Mgr Street and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.