Guideline Value for VALLAL ORI CROSS STREET (WARD -4)

Vallal Ori Cross Street (Ward -4) guideline value

The current guideline value of Vallal Ori Cross Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

Over the years, the guideline value for Vallal Ori Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it up to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% rise from the previous year.

The register does not contain 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 Panangottur

In Panangottur, there are a total of 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 value for these streets is Rs 990 per sq.ft, making the guideline value of Vallal Ori Cross Street (Ward -4) above the median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Vallal Ori Cross Street (Ward -4) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This process ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the guideline value register.

Frequently asked questions

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

The current guideline value of Vallal Ori Cross Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has gone through several revisions. It was Rs 1,200 in 2012, dropped to Rs 804 in 2017, rose to Rs 1,200 in 2023, and finally increased to Rs 1,320 in 2024.

What is the land classification for Vallal Ori Cross Street?

Vallal Ori Cross Street is classified as Residential Special Type - V, which indicates its suitability for residential development.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can visit this office for registration-related services.