Guideline Value for VALLALAR KUDIYIRUPPU

Vallalar Kudiyiruppu guideline value

The current guideline value of Vallalar Kudiyiruppu is Rs 8,200 per sq.ft, effective from the 2024 revision. This area is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vallalar Kudiyiruppu has changed

The guideline value has seen several revisions over the years. In 2002, the value was Rs 1,146 per sq.ft, which increased to Rs 1,310 per sq.ft in 2003. From 2003 to 2007, it rose significantly to Rs 2,050 per sq.ft, marking a 56% increase. The value further jumped to Rs 7,500 per sq.ft in 2012, a 266% increase from 2007. However, it decreased to Rs 5,025 per sq.ft in 2017, reflecting a 33% drop. The most recent revision in 2023 set the value at Rs 7,500 per sq.ft, which then increased to Rs 8,200 per sq.ft in 2024, a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 616%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Vallalar Kudiyiruppu's 2024 figure above that median.

• VALLALAR KUDIYIRUPPU 10th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 11th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 6th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 7th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 8th STREET: Rs 8,200 per sq.ft (2024)
• VALLALAR KUDIYIRUPPU 9th STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Kudiyiruppu

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000, resulting in a total of Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Kudiyiruppu?

The Vallalar Kudiyiruppu area falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Villivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these fees are appropriately assessed based on the property's worth.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher value between the guideline value and the sale price. This practice helps maintain transparency and compliance within the real estate market.

Frequently asked questions

What is the current guideline value for Vallalar Kudiyiruppu?

The current guideline value for Vallalar Kudiyiruppu is Rs 8,200 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,146 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 616% over this period.

What are the stamp duty rates for properties in Vallalar Kudiyiruppu?

The stamp duty rate for properties in Vallalar Kudiyiruppu is 7% of the guideline value or sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the guideline value determined for properties in Villivakkam?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market conditions, ensuring that it reflects the property's worth in the area.