Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, which was Rs 594 per sq.ft. This increased to Rs 653 per sq.ft in 2003, marking a 10% rise. The value then saw a significant jump to Rs 1,500 per sq.ft in 2007, representing a 130% increase. In 2012, the value rose further to Rs 4,900 per sq.ft, a remarkable 227% increase from the previous revision. However, this value decreased to Rs 3,283 per sq.ft in 2017, reflecting a 33% decline. The most recent revision in 2024 set the value at Rs 5,300 per sq.ft, which is a 61% increase from 2017.

There is no guideline value recorded for Vallalar Street in 2023, as the register has no figure for this street in it. Overall, from 2002 to 2024, the guideline value has increased by 792%.

Guideline values in Puliyur

In Puliyur village, there are a total of 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Vallalar Street's current value below this median.

• Vallalar Street 1st Cross Street (Vadapalani): Rs 4,600 per sq.ft (2024)
• Vallalar Street 2nd Cross Street (Chooliamedu): Rs 4,600 per sq.ft (2024)
• Vallalar Street 3rd Cross Street (Vadapalani): Rs 4,600 per sq.ft (2024)
• Vallalar Street (Vadapalani): Rs 4,400 per sq.ft (2024)
• Valliammai Road: Rs 6,300 per sq.ft (2024)
• Valliammal Garden 1st Street: Rs 6,300 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 5,300 per sq.ft, the total guideline value would be Rs 53,00,000. The stamp duty at 7% would amount to Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, making the total charges Rs 4,77,000. 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 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 Puliyur

The guideline value is a crucial factor in property transactions in Puliyur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions.

When selling property, the guideline value can also influence the sale price. Sellers should be aware of the current guideline value to set a competitive price that aligns with the official assessments made by the Registration Department.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 5,300 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 594 per sq.ft in 2002 to Rs 5,300 per sq.ft in 2024, marking an overall increase of 792%.

What is the land classification of Vallalar Street?

Vallalar Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Kodambakkam Sub Registrar Office?

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