Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Vallalar Street has changed

Over the years, the guideline value of Vallalar Street has experienced several revisions. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Vallalar Street's 2024 figure equal to this median.

• Vaithiyalingam Street: Rs 2,200 per sq.ft (2024)
• Valmigi Street: Rs 2,200 per sq.ft (2024)
• Uthukulam @ Thiruvalluvar Street: Rs 2,200 per sq.ft (2024)
• Vedhachalam Nagar: Rs 2,200 per sq.ft (2024)
• Vedhachalam Street: Rs 2,200 per sq.ft (2024)
• Veera Anjaneyar Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that transactions are conducted transparently and fairly, based on established values.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vallalar Street?

Vallalar Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Vallalar Street?

The Sub Registrar Office for Vallalar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.