Guideline Value for VALLALAR NAGAR

Vallalar Nagar guideline value

The current guideline value of Vallalar Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Kolatti village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class I 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 2002, the value was Rs 32 per sq.ft, which increased to Rs 37 per sq.ft in 2003. The next recorded revision was in 2012, where the value rose to Rs 300 per sq.ft, but it then dropped to Rs 201 per sq.ft in 2017. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

From 2002 to 2024, the overall increase in the guideline value is 931%. Notably, the value jumped by 711% from 2003 to 2012, and there was a 49% increase from 2017 to 2023. The register has no figure for Vallalar Nagar in 2007.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 220 to Rs 330 per sq.ft. Vallalar Nagar's 2024 figure of Rs 330 per sq.ft is above the median value of Rs 275 per sq.ft for the village.

• Thiru Vee Ka Nagar: Rs 220 per sq.ft (2024)
• Thirumurugan Nagar: Rs 330 per sq.ft (2024)
• Sri Thiruvenkadapuram Nagar: Rs 330 per sq.ft (2024)
• Sri Ragavendira Modern Town: Rs 330 per sq.ft (2024)
• Ram Tulasi Nagar: Rs 330 per sq.ft (2024)
• Puduppedu School Road: Rs 220 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Nagar?

The Vallalar Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for additional details.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Kolatti, the guideline value helps in calculating the stamp duty and registration fees that must be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process. Understanding the guideline value also aids in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Nagar?

The current guideline value of Vallalar Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 32 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 931% over this period.

Which Sub Registrar Office covers Vallalar Nagar?

The Ponneri Sub Registrar Office covers Vallalar Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

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

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Are there other streets in Kolatti with different guideline values?

Yes, there are other streets in Kolatti with guideline values ranging from Rs 220 to Rs 330 per sq.ft, with Vallalar Nagar being at the higher end of this range.