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 Vallancheri village and falls under the Chengleput Joint II SRO with a land classification of 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 earliest registered figure is from 2012, where it was set at Rs 600 per sq.ft. In 2017, this value decreased to Rs 402 per sq.ft, marking a decline of 33%. The 2023 revision brought the value back up to Rs 600 per sq.ft, and the latest revision in 2024 increased it further to Rs 660 per sq.ft, reflecting a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the jump from 2017 to 2023 was significant, with a 49% increase. It is important to note that there are no registered figures for this street in the years 2002, 2003, and 2007.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, which means 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the 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) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vallancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When you proceed with a property transaction, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Thus, understanding the guideline value is essential for both buyers and sellers in the area.

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

What is the land classification for Vallalar Nagar Ambedkar Street?

Vallalar Nagar Ambedkar Street is classified as Residential Class II Type - I, which indicates 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 the 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, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.