Guideline Value for VALLALAR NAGAR 1ST STREET

Vallalar Nagar 1st Street guideline value

The current guideline value of Vallalar Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Thandurai village under the Avadi SRO, classified as Residential Special Type - III.

How the guideline value of Vallalar Nagar 1st Street has changed

The guideline value for Vallalar Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision saw an increase to Rs 1,200 per sq.ft, which was then revised again to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the period from 2017 to 2023 saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO, with guideline values ranging from Rs 800 to Rs 2,640 per sq.ft. The median guideline value in this area is Rs 988 per sq.ft, placing Vallalar Nagar 1st Street's 2024 figure above this median.

• Vallalar Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 6th Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 7th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vallalar Nagar 1st Street?

The Vallalar Nagar 1st Street falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thandurai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable charges. Buyers and sellers should be aware that the duty is charged based on the higher value between the guideline value and the sale price, ensuring that the correct fees are calculated during registration.

Frequently asked questions

What is the current guideline value of Vallalar Nagar 1st Street?

The current guideline value of Vallalar Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, then increasing to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024.

What is the land classification for Vallalar Nagar 1st Street?

Vallalar Nagar 1st Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What is the median guideline value in Thandurai?

The median guideline value in Thandurai village is Rs 988 per sq.ft, with Vallalar Nagar 1st Street's 2024 figure being above this median.

Where can I find the Sub Registrar Office for Vallalar Nagar 1st Street?

The Sub Registrar Office covering Vallalar Nagar 1st Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.