Guideline Value for VALLALAR STREET (WARD -7)

Vallalar Street (Ward -7) guideline value

The current guideline value of Vallalar Street (Ward -7) is Rs 1,760 per sq.ft. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - III.

How the guideline value of Vallalar Street (Ward -7) has changed

The guideline value for Vallalar Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017, marking a -33% change. In 2023, the value increased to Rs 1,600 per sq.ft, and in the latest 2024 revision, it rose to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the 2024 figure for Vallalar Street above this median.

• Vallal Began Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Kumanan Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Vallal Mgr Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to Rs 1,58,400. 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 Street (Ward -7)?

The Sub Registrar Office that covers Vallalar Street (Ward -7) is 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 Ninna Karai

The guideline value is an essential factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the authorities.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vallalar Street (Ward -7)?

The current guideline value of Vallalar Street (Ward -7) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Vallalar Street (Ward -7)?

Vallalar Street (Ward -7) is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO 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 Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at 7%.