Guideline Value for VALLALAR NAGAR AMBEDKAR STREET (WARD-21)

Vallalar Nagar Ambedkar Street (Ward-21) guideline value

The current guideline value of Vallalar Nagar Ambedkar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Vallalar Nagar Ambedkar Street (Ward-21) has changed

The guideline value has undergone several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft. This value remained the same until the next revision in 2017, where it decreased to Rs 402 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, indicating that Vallalar Nagar Ambedkar Street's 2024 figure is below this median.

• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)
• Vallancheri Colony Road (Ward -1): Rs 770 per sq.ft (2024)
• Varaavathi Street (Ward -1): Rs 770 per sq.ft (2024)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)
• Thulukkanathamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Nagar Ambedkar Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that 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 details.

Which Sub Registrar Office covers Vallalar Nagar Ambedkar Street (Ward-21)?

The Vallalar Nagar Ambedkar Street (Ward-21) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Konathi. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is registered at a fair value as per government regulations.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. This value helps in determining the financial obligations involved in the registration process, making it a crucial component of real estate dealings in the area.

Frequently asked questions

What is the current guideline value of Vallalar Nagar Ambedkar Street (Ward-21)?

The current guideline value of Vallalar Nagar Ambedkar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Vallalar Nagar Ambedkar Street?

Vallalar Nagar Ambedkar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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 Vallalar Nagar Ambedkar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 46,200 at a rate of 7%.