Guideline Value for VALLESWARAN THOTTAM 1ST STREET

Valleswaran Thottam 1st Street guideline value

The current guideline value for Valleswaran Thottam 1st Street 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 Valleswaran Thottam 1st Street has changed

The guideline value for Valleswaran Thottam 1st Street has seen several revisions over the years. In 2002, the value was Rs 540 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a rise of 11%. The value further increased to Rs 900 per sq.ft in 2007, showing a significant increase of 50%. The 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a substantial rise of 233% from the previous revision. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the value rose to Rs 3,000 per sq.ft, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for any other revisions for this street.

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. The median value for these streets is Rs 8,800 per sq.ft, placing Valleswaran Thottam 1st Street's 2024 figure below that median.

• Valleswaran Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 3rd Street: Rs 3,300 per sq.ft (2024)
• Valleeswaran Thottam: 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 Valleswaran Thottam 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valleswaran Thottam 1st Street?

The Sub Registrar Office that covers Valleswaran Thottam 1st Street 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 more information.

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

The guideline value is a crucial element in the registration process for property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Valleswaran Thottam 1st Street?

The current guideline value of Valleswaran Thottam 1st Street 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 from Rs 540 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 511% over the years.

What is the stamp duty rate for properties in Valleswaran Thottam 1st Street?

The stamp duty rate for properties in Valleswaran Thottam 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Valleswaran Thottam 1st Street?

The Sub Registrar Office for Valleswaran Thottam 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Valleswaran Thottam 1st Street?

Valleswaran Thottam 1st Street is classified as Residential Class V Type - III, which is important for understanding the type of properties allowed in this area.