Guideline Value for VALLALAR NAGAR

Vallalar Nagar guideline value

The current guideline value of Vallalar Nagar, located in Cholanthangal village under the Madurandakam SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vallalar Nagar has changed

Over the years, the guideline value of Vallalar Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 100 per sq.ft, a drop of 33% from the previous figure. The most recent revision in 2024 reinstated the value to Rs 150 per sq.ft, reflecting no change from the 2023 revision and an overall increase of 0% from the 2012 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the only revisions available for reference are from 2012, 2017, 2023, and 2024.

Guideline values in Cholanthangal

In Cholanthangal village, there are six streets under the Madurandakam SRO with a 2024 guideline value ranging from Rs 150 to Rs 700 per sq.ft, with a median value of Rs 500 per sq.ft. Vallalar Nagar's 2024 figure is below this median.

• Thulaci Promoters - Kamala Nagar: Rs 500 per sq.ft (2024)
• Viruksham Avenue: Rs 600 per sq.ft (2024)
• Sri Raghavendharar Avenue Phase- I: Rs 500 per sq.ft (2024)
• Sri Raghavendharar Avenue: Rs 500 per sq.ft (2024)
• யோகாலயா அவென்யூ: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Nagar?

The Vallalar Nagar area falls under the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Cholanthangal. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in government records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. Therefore, understanding the guideline value is essential for buyers and sellers to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Nagar?

The current guideline value of Vallalar Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent change being from Rs 150 in 2023 to Rs 150 in 2024, indicating no change. The value was Rs 100 per sq.ft in 2017, down from Rs 150 in 2012.

What is the land classification for Vallalar Nagar?

The land classification for Vallalar Nagar is Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Vallalar Nagar?

The Madurandakam Sub Registrar Office covers Vallalar Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Vallalar Nagar?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 13,500 in fees.