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 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to 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 this street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that have 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, placing Vallal Patchaiappar Street's 2024 figure above this median.

• Vallal Pari Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vallal Seethakathi Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while 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 and the sale price.

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

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

The Sub Registrar Office that covers Vallal Patchaiappar Street (Ward -7) is 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

Additionally, the guideline value must be disclosed during the registration of property transactions. This transparency helps in maintaining a clear record of property values and ensures that all parties involved adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vallal Patchaiappar Street (Ward -7)?

The current guideline value of Vallal Patchaiappar Street (Ward -7) 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 2023 to Rs 1,320 per sq.ft in 2024, an increase of 10%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Vallal Patchaiappar Street?

The land classification for Vallal Patchaiappar Street (Ward -7) is Residential Special Type - V.

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, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,400.