Guideline Value for VALLALAR NAGAR EXTENSION

Vallalar Nagar Extension guideline value

The current guideline value for Vallalar Nagar Extension in Sathamai village is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Vallalar Nagar Extension has changed

Over the years, the guideline value for Vallalar Nagar Extension has undergone several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2017 revision, where it was also Rs 250 per sq.ft. However, the 2017 revision saw a significant increase from the 2012 figure of Rs 250 per sq.ft to Rs 167 per sq.ft in the 2017 revision, marking a -33% change. The 2023 revision again set the value at Rs 250 per sq.ft, and there was no change in the 2024 revision, which also stands at Rs 250 per sq.ft.

It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007. The overall change from 2012 to 2024 reflects a 0% change, indicating that the guideline value has remained stable during this period.

Guideline values in Sathamai

In Sathamai village, there are 7 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Vallalar Nagar Extension's 2024 figure at the median level.

• Vallalar Nagar: Rs 250 per sq.ft (2024)
• Udhayam Nagar: Rs 250 per sq.ft (2024)
• Subam Nagar: Rs 250 per sq.ft (2024)
• Serenity Garden: Rs 250 per sq.ft (2024)
• Madura Nagar Phase-I: Rs 500 per sq.ft (2024)
• Madura Nagar: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total costs together to Rs 22,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Nagar Extension?

The Vallalar Nagar Extension is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sathamai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Vallalar Nagar Extension?

The current guideline value of Vallalar Nagar Extension is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 through 2024, with a drop to Rs 167 per sq.ft in 2017. The value was Rs 250 per sq.ft in the 2023 revision, showing no change in the most recent revision.

What are the guideline values for other streets in Sathamai?

The guideline values for other streets in Sathamai range from Rs 175 to Rs 500 per sq.ft, with the median being Rs 250 per sq.ft, which is the same as that of Vallalar Nagar Extension.

What are the stamp duty and registration fees for properties in Vallalar Nagar Extension?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 250 per sq.ft, the total costs would amount to Rs 22,500.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. This office handles all registrations for properties in Vallalar Nagar Extension.