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 Thailavaram village 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 for Vallalar Nagar Ambedkar Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, 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 Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, making the guideline value of Vallalar Nagar Ambedkar Street (Ward-21) below this median.

• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)
• Vainavi Crystal Garden: Rs 1,100 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 881 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 881 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 to Rs 59,400. 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 Nagar Ambedkar Street (Ward-21)?

The Vallalar Nagar Ambedkar Street (Ward-21) falls under 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 Thailavaram

The guideline value is a crucial factor during the registration of property transactions in Thailavaram. It determines the minimum value at which properties can be registered and affects the stamp duty and registration fees payable at the time of sale.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing underreporting of property prices. This helps maintain transparency in real estate transactions and ensures that the government receives appropriate revenue from stamp duties.

Frequently asked questions

What is the current guideline value of Vallalar Nagar Ambedkar Street?

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 to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the classification of Vallalar Nagar Ambedkar Street?

Vallalar Nagar Ambedkar Street is classified as Residential Class II Type - I under the Chengleput Joint II SRO.

Where can I find the registration office for Vallalar Nagar Ambedkar Street?

The registration office for Vallalar Nagar Ambedkar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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 a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.