Guideline Value for VALLANCHERI COLONY ROAD (WARD -1)

Vallancheri Colony Road (Ward -1) guideline value

The current guideline value of Vallancheri Colony Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This road is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vallancheri Colony Road (Ward -1) has changed

The guideline value for Vallancheri Colony Road has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 469 per sq.ft. The 2023 revision saw a significant increase to Rs 700 per sq.ft, followed by another increase to Rs 770 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2017, the guideline value experienced a decline of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, which matches the guideline value of Vallancheri Colony Road (Ward -1). Below are the guideline values for other streets in Konathi:

• Vallancheri Anna Street (Ward -1): Rs 770 per sq.ft (2024)
• Vallalar Nagar Ambedkar Street (Ward-21): Rs 660 per sq.ft (2024)
• Varaavathi Street (Ward -1): Rs 770 per sq.ft (2024)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vallancheri Colony Road (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallancheri Colony Road (Ward -1)?

The Vallancheri Colony Road (Ward -1) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Konathi. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered as a baseline for calculating the applicable fees. Buyers should be aware that the stamp duty is charged on the greater of the guideline value or the sale price, ensuring that the fees reflect the property's worth.

Frequently asked questions

What is the current guideline value of Vallancheri Colony Road (Ward -1)?

The current guideline value of Vallancheri Colony Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then rising to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Vallancheri Colony Road?

The land classification for Vallancheri Colony Road (Ward -1) is Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated in Konathi?

Stamp duty in Konathi is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the property's worth during registration.