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 Thailavaram 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 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 700 per sq.ft in the 2023 revision, and currently stands at Rs 770 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value for Vallancheri Colony Road.

• 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)
• Vainavi Crystal Garden: Rs 1,100 per sq.ft (2024)
• Varsha Avenue (Po): Rs 881 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 881 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 amounts to Rs 7,70,000. The stamp duty is charged at 7%, which totals Rs 53,900, while the registration fee at 2% amounts to Rs 15,400. Together, the total cost for these fees is Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during 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 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 seen several changes, starting from Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, then rising to Rs 700 per sq.ft in 2023, and currently at 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, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 770 per sq.ft incurs a total fee of Rs 69,300.

Which office handles registrations for Vallancheri Colony Road?

The Chengleput Joint II Sub Registrar Office handles registrations for Vallancheri Colony Road (Ward -1), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.