Guideline Value for VALLAL PARI 1ST STREET

Vallal Pari 1st Street guideline value

The current guideline value of Vallal Pari 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - II.

How the guideline value of Vallal Pari 1st Street has changed

The guideline value for Vallal Pari 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 1,200 per sq.ft. In 2024, the guideline value increased to Rs 1,320 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. Vallal Pari 1st Street's 2024 figure is below this median.

• Vallal Pari 10 Th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 11th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 12th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 13th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 14th St: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Pari 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallal Pari 1st Street?

The Vallal Pari 1st Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallal Pari 1st Street?

The current guideline value of Vallal Pari 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase overall from 2012 to 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Vallal Pari 1st Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Vallal Pari 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Vallal Pari 1st Street?

Vallal Pari 1st Street is classified as Residential Class IV Type - II, indicating its suitability for residential development.