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 street is located in Potheri village and falls under the Chengleput Joint II SRO, classified as 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. The earliest recorded revision was in 2012, where the value was Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 700 per sq.ft, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a substantial increase of 49%. Overall, the guideline value has seen a modest increase of 10% from 2012 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is the same as the guideline value for Vallancheri Colony Road (Ward -1).

• 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 rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to 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 or 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased 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?

Vallancheri Colony Road is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.