Guideline Value for VALLEESWARAN THOTTAM

Valleeswaran Thottam guideline value

The current guideline value of Valleeswaran Thottam is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Valleeswaran Thottam has changed

The guideline value of Valleeswaran Thottam has seen several revisions over the years. In 2002, the value was Rs 590 per sq.ft. This increased to Rs 656 per sq.ft in 2003, marking an 11% rise. Following this, the value rose to Rs 900 per sq.ft in 2007, reflecting a significant increase of 37%. The 2012 revision saw a jump to Rs 3,000 per sq.ft, a remarkable 233% increase from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,300 per sq.ft, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 459%. There are no figures available for revisions in years not listed above.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Valleeswaran Thottam's current guideline value is below this median.

• Valleswaran Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Valluvar Thulasingam Street: Rs 3,300 per sq.ft (2024)
• Valeeswaran Koil Street: Rs 7,100 per sq.ft (2024)
• Vaikkol Thotti: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valleeswaran Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Valleeswaran Thottam?

The Sub Registrar Office covering Valleeswaran Thottam is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official valuation set by the authorities.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that buyers should be aware of the current guideline value to understand the potential costs involved in their property transactions.

Frequently asked questions

What is the current guideline value of Valleeswaran Thottam?

The current guideline value of Valleeswaran Thottam is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 590 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 459% over this period.

What are the stamp duty and registration fees for property in Valleeswaran Thottam?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Mylapore Sub Registrar Office covers Valleeswaran Thottam, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Valleeswaran Thottam?

Valleeswaran Thottam is classified as Residential Class V Type - III, indicating its designation for residential use within the area.