Guideline Value for VALLALAR NAGAR

Vallalar Nagar guideline value

The current guideline value of Vallalar Nagar, located in Sathamai village under the Madurandakam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - I.

How the guideline value of Vallalar Nagar has changed

The guideline value for Vallalar Nagar has seen several revisions over the years. In 2012, the value was Rs 250 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 167 per sq.ft. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft. The 2024 revision has kept the value steady at Rs 250 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 250 per sq.ft.

Guideline values in Sathamai

In Sathamai village, there are seven 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, which is the same as the guideline value for Vallalar Nagar.

• Vallalar Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty is charged at 7%, amounting to Rs 17,500, while the registration fee is charged at 2%, which totals Rs 5,000. Together, the total cost for stamp duty and registration fee would be Rs 22,500. 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 detailed calculations.

Which Sub Registrar Office covers Vallalar Nagar?

The Sub Registrar Office that covers Vallalar Nagar is 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 is a crucial factor when registering property transactions in Sathamai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers need to be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct amount based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Vallalar Nagar?

The current guideline value of Vallalar Nagar 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 in 2012, 2023, and 2024, with a decrease to Rs 167 per sq.ft in 2017. There were no figures for the years 2002, 2003, and 2007.

What is the land classification of Vallalar Nagar?

Vallalar Nagar is classified as Mixed Type - I, which indicates the type of development allowed in the area.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot valued at Rs 2,50,000, the total stamp duty and registration fees would be Rs 22,500.

Which office handles registrations for Vallalar Nagar?

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