Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and falls under the Residential Class IV Type - III land classification.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 462 per sq.ft. In 2003, it increased to Rs 509 per sq.ft, marking a 10% rise. The 2007 revision saw a substantial jump to Rs 850 per sq.ft, which was a 67% increase. The value then rose to Rs 3,500 per sq.ft in the 2012 revision, reflecting a 312% increase from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33% from the 2012 figure.

In the 2023 revision, the guideline value increased to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,800 per sq.ft, representing a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 723%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Vallalar Street's 2024 guideline value is below this median.

• Valliammal Street: Rs 3,300 per sq.ft (2024)
• Valluvar Road: Rs 6,000 per sq.ft (2024)
• Valluvar Street Extn.,: Rs 6,000 per sq.ft (2024)
• Vasuki Street: Rs 4,400 per sq.ft (2024)
• Vathalakundu Arumugam Nagar: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar III Rd Street: Rs 3,300 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 462 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 723% over the years.

What is the land classification for Vallalar Street?

Vallalar Street falls under the Residential Class IV Type - III land classification.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,00,000, leading to a stamp duty of Rs 2,66,000 and a registration fee of Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Vallalar Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.