Guideline Value for VALLAL SEETHAGATHI NAGAR

Vallal Seethagathi Nagar guideline value

The current guideline value of Vallal Seethagathi Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Vallal Seethagathi Nagar has changed

The guideline value for Vallal Seethagathi Nagar has seen several revisions over the years. In 2003, the value was Rs 38 per sq.ft, which increased to Rs 50 per sq.ft in 2007. This marked a significant rise of 32%. The value then surged to Rs 300 per sq.ft in 2012, reflecting a substantial increase of 500%. However, it decreased to Rs 201 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 300 per sq.ft in 2023, followed by a further increase to Rs 330 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 768%. The changes between the revisions highlight the fluctuations in property values over time, reflecting various market conditions and assessments by the registration department.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the current guideline value of Vallal Seethagathi Nagar.

• Vadiudaiamman Nagar: Rs 330 per sq.ft (2024)
• Vasavi Nagar: Rs 330 per sq.ft (2024)
• Veeravanji Road: Rs 330 per sq.ft (2024)
• Vela Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Thuyarankatha Vinayagar Koil Str Eet: Rs 330 per sq.ft (2024)
• Venkatesa Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Seethagathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallal Seethagathi Nagar?

The Sub Registrar Office that covers Vallal Seethagathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanthiambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vallal Seethagathi Nagar?

The current guideline value of Vallal Seethagathi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 38 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 768% over the years.

What are the stamp duty and registration fees for property in Vallal Seethagathi Nagar?

For a 1,000 sq.ft property at the guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which Sub Registrar Office covers Vallal Seethagathi Nagar?

The Thiruvottiyur Sub Registrar Office covers Vallal Seethagathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Vallal Seethagathi Nagar?

The land classification for Vallal Seethagathi Nagar is Residential Special Type - II, indicating its designated use for residential purposes.