Guideline Value for VALLALAR STREET

Vallalar Street guideline value

The current guideline value of Vallalar Street in Ponneri village, under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Vallalar Street has changed

In the 2012 revision, the guideline value for Vallalar Street was set at Rs 500 per sq.ft. This value then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, indicating a 49% increase from 2017 to 2023 and no change from 2023 to 2024.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 40%.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft, with the median being Rs 700 per sq.ft. Vallalar Street's 2024 figure aligns with this median.

• Vaniamkulam Salai: Rs 700 per sq.ft (2024)
• Varadhappa Naickan St: Rs 900 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)
• Udayam Nagar: Rs 700 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)
• Velavan Nagar: Rs 700 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 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street?

The Vallalar Street falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ponneri, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is officially documented in accordance with government regulations.

Both buyers and sellers must be aware that the guideline value may differ from the actual sale price. However, the stamp duty is charged based on the higher of the two values, ensuring 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 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2012 to 2017, the guideline value decreased from Rs 500 to Rs 469 per sq.ft. It then increased to Rs 700 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Vallalar Street?

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

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Vallalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.