Guideline Value for VALLAL PATCHAIAPPAR STREET (WARD -7)

Vallal Patchaiappar Street (Ward -7) guideline value

The current guideline value of Vallal Patchaiappar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, classified as Residential Special Type - V.

How the guideline value of Vallal Patchaiappar Street (Ward -7) has changed

The guideline value for Vallal Patchaiappar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a significant decrease to Rs 804 per sq.ft, a drop of 33%. However, the value rebounded in the 2023 revision to Rs 1,200 per sq.ft, and then increased further to Rs 1,321 per sq.ft in the 2024 revision, marking a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing Vallal Patchaiappar Street's 2024 figure above that median.

• Vallal Pari Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Seethakathi Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Mgr Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Kumanan Street (Ward -6): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Patchaiappar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total charges to Rs 1,18,890. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallal Patchaiappar Street (Ward -7)?

The Chengleput Joint II Sub Registrar Office covers Vallal Patchaiappar Street (Ward -7). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount in taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vallal Patchaiappar Street?

The current guideline value of Vallal Patchaiappar Street (Ward -7) is Rs 1,321 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 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Vallal Patchaiappar Street?

Vallal Patchaiappar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Vallal Patchaiappar Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.