Guideline Value for VALLAM BANGARU CHETTY STREET

Vallam Bangaru Chetty Street guideline value

The current guideline value of Vallam Bangaru Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Vallam Bangaru Chetty Street has changed

The guideline value for Vallam Bangaru Chetty Street has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, there was a decrease to Rs 3,685 per sq.ft in 2017. The value then rose to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 206% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally increased by 9% from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, placing Vallam Bangaru Chetty Street's 2024 figure above this median.

• Valliammal Street: Rs 8,800 per sq.ft (2024)
• Valluvan Street: Rs 6,000 per sq.ft (2024)
• Valluva Pandaram Street: Rs 5,500 per sq.ft (2024)
• Vali Hussain Street: Rs 5,500 per sq.ft (2024)
• Vaikkakaran Street: Rs 6,000 per sq.ft (2024)
• Vada Malai Pillai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vallam Bangaru Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total cost together to Rs 5,40,000. It is important to note that 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 Vallam Bangaru Chetty Street?

The Sub Registrar Office that covers Vallam Bangaru Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Purasaivakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Vallam Bangaru Chetty Street?

The current guideline value of Vallam Bangaru Chetty Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification for Vallam Bangaru Chetty Street?

The land classification for Vallam Bangaru Chetty Street is Residential Class III Type - III, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Vallam Bangaru Chetty Street?

The Sub Registrar Office for Vallam Bangaru Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Vallam Bangaru Chetty Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.