Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street in Vengathur village is Rs 800 per sq.ft, effective from the 2024 revision. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has seen several revisions over the years. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a substantial rise of 540%. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, a drop of 33%. The value then rose again to Rs 800 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

It is important to note that the register has no figures for Vallalar Street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 540%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, making Vallalar Street's 2024 figure of Rs 800 per sq.ft below that median.

• Valavan Street: Rs 800 per sq.ft (2024)
• Valli Street: Rs 800 per sq.ft (2024)
• Vaikai Street: Rs 1,300 per sq.ft (2024)
• Varalakshmi Nagar: Rs 1,300 per sq.ft (2024)
• Va.Voo.See. Street: Rs 1,300 per sq.ft (2024)
• Veenas Street: Rs 800 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, while the registration fee at 2% would be Rs 16,000, bringing the total fees together to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street?

The Vallalar Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Vengathur. It is the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market conditions, thereby safeguarding both the buyer and seller during the registration process.

Frequently asked questions

What is the current guideline value of Vallalar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in both 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Vallalar Street's current value being below this median.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Which Sub Registrar Office covers Vallalar Street?

The Manavalanagar Sub Registrar Office covers Vallalar Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai.