Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street in Thandurai village, under the Avadi SRO, is Rs 988 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Vallalar Street has changed

The guideline value of Vallalar Street has seen several revisions over the years. In 2002, the value was Rs 67 per sq.ft, which increased to Rs 77 per sq.ft in 2003, marking a 15% rise. The value then experienced a significant increase of 401% to reach Rs 386 per sq.ft in 2007. Following this, the value rose by 133% to Rs 900 per sq.ft in 2012, but then dropped by 33% to Rs 603 per sq.ft in 2017. From 2017 to 2023, the guideline value increased by 49% to Rs 900 per sq.ft, and the most recent revision in 2024 saw a further increase of 10%, bringing the value to Rs 988 per sq.ft.

There are no figures available for the revisions in years other than those listed above. The overall change from 2002 to 2024 reflects an increase of 1375% in the guideline value.

Guideline values in Thandurai

In Thandurai village, there are a total of 331 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 2,640 per sq.ft. The median guideline value for the village is Rs 988 per sq.ft, which is equal to the current guideline value of Vallalar Street.

• Vallalar Nagar & Other Streets: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar Main Road Cross St: Rs 802 per sq.ft (2024)
• Vallalar Nagar Main Road Cross Road: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 9th Street: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar 8th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value would be Rs 9,88,000. The stamp duty is charged at 7%, amounting to Rs 69,160, while the registration fee is 2%, totaling Rs 19,760. Together, the total cost for stamp duty and registration fee would be Rs 88,920. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Thandurai. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2002 to Rs 988 per sq.ft in 2024, reflecting a significant overall increase of 1375%.

What are the other streets in Thandurai with their guideline values?

Other streets in Thandurai include Vallalar Nagar & Other Streets at Rs 1,300 per sq.ft, Vallalar Nagar Main Road Cross St at Rs 802 per sq.ft, and several others at Rs 1,300 per sq.ft.

How is the stamp duty calculated for property in Vallalar Street?

The stamp duty for property in Vallalar Street is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

Which office handles property registrations for Vallalar Street?

The Avadi Sub Registrar Office handles property registrations for Vallalar Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.