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, effective from 1 July 2024. This street is located in Sattamangalam 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 undergone several revisions over the years. In 2012, the value was set at Rs 1,600 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. The value then increased significantly to Rs 1,600 per sq.ft in 2023, before rising again to the current rate of Rs 1,760 per sq.ft in 2024.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 1,100 per sq.ft, positioning Vallalar Street's 2024 figure above this median.

• Vallal Began Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Vallal Kaari Street (Ward -4): Rs 1,320 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 1,320 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 would be 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, making the total cost Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vallalar Street (Ward -7)?

The Chengleput Joint II Sub Registrar Office covers Vallalar Street (Ward -7). The office is 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 Sattamangalam

The guideline value plays a crucial role during property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in estimating the overall costs involved in property transactions. It is advisable to check the latest guideline values before proceeding with any real estate transactions.

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 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.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vallalar Street (Ward -7)?

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