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 Vallancheri 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 (Ward -1) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft, marking a drop of 33%. The value increased to Rs 700 per sq.ft in the 2023 revision and further rose to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The most significant change occurred between the 2017 and 2023 revisions, with a notable increase of 49% in value.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for the village is Rs 825 per sq.ft, placing Vallancheri Colony Road (Ward -1) below this median value.

• 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 is calculated at 7%, resulting in Rs 53,900, while the registration fee is 2%, amounting to Rs 15,400. Therefore, the total cost for stamp duty and registration fee together is Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Vallancheri

The guideline value plays a crucial role in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the appropriate stamp duty and registration fees are calculated based on this value.

When a property is sold, the guideline value is used to determine the applicable taxes, which are charged on the higher of the guideline value or the actual sale price. This ensures that the government receives due 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 back 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 (Ward -1)?

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

What is the total cost for stamp duty and registration fee for a property on Vallancheri Colony Road (Ward -1)?

For a 1,000 sq.ft plot, the total cost for stamp duty and registration fee amounts to Rs 69,300, based on the current guideline value.

Which office handles registrations for Vallancheri Colony Road (Ward -1)?

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