Guideline Value for VALLAL PARI NAGAR 14TH ST 1ST SRI NAGAR EXT

Vallal Pari Nagar 14th St 1st Sri Nagar Ext guideline value

The current guideline value for Vallal Pari Nagar 14th St 1st Sri Nagar Ext is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Vallal Pari Nagar 14th St 1st Sri Nagar Ext has changed

The guideline value for Vallal Pari Nagar 14th St has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, a rise of 49%. The latest revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current guideline value for Vallal Pari Nagar 14th St below that median.

• Vallal Pari Nagar 14th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 5th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 13th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 6th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 12th St: Rs 1,320 per sq.ft (2024)
• Vallal Pari Nagar 7th St: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Pari Nagar 14th St 1st Sri Nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total 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, bringing the total cost for these fees to 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vallal Pari Nagar 14th St 1st Sri Nagar Ext?

The Sub Registrar Office that covers Vallal Pari Nagar 14th St 1st Sri Nagar Ext is 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 for property transactions in Pallikaranai. It serves as a reference point for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Vallal Pari Nagar 14th St 1st Sri Nagar Ext?

The current guideline value for Vallal Pari Nagar 14th St 1st Sri Nagar Ext is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Vallal Pari Nagar 14th St?

The land classification for Vallal Pari Nagar 14th St is Residential Class IV Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Vallal Pari Nagar 14th St?

The registration for Vallal Pari Nagar 14th St is handled 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.