Guideline Value for VALLALAR NAGAR 1ST STREET

Vallalar Nagar 1st Street guideline value

The current guideline value of Vallalar Nagar 1st Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

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

The guideline value for Vallalar Nagar 1st Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. The value increased significantly to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Vallalar Nagar 1st Street's current value below that median.

• Vallalar Nagar: Rs 1,100 per sq.ft (2024)
• Valliyammal Nagar: Rs 1,100 per sq.ft (2024)
• Vanagaram Seik Manyam: Rs 1,320 per sq.ft (2024)
• Vellammal Palli Street: Rs 1,660 per sq.ft (2024)
• Vembuli Naicker Street: Rs 1,660 per sq.ft (2024)
• Vembuli Nayackar 1st Cross Street: Rs 1,660 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property.

Which Sub Registrar Office covers Vallalar Nagar 1st Street?

The Vallalar Nagar 1st Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

The land classification for Vallalar Nagar 1st Street is Residential Class IV Type - III.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 99,000.

Which office handles property registrations for Vallalar Nagar 1st Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Vallalar Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.