Guideline Value for VALLESWARAN THOTTAM 2ND STREET

Valleswaran Thottam 2nd Street guideline value

The current guideline value of Valleswaran Thottam 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO, and falls under the Residential Class V Type - III land classification.

How the guideline value of Valleswaran Thottam 2nd Street has changed

The guideline value for Valleswaran Thottam 2nd Street has undergone 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 an 11% rise. The value then saw a 50% increase to Rs 900 per sq.ft in 2007. Following this, the value surged by 233% to reach Rs 3,000 per sq.ft in 2012. However, it decreased by 33% to Rs 2,010 per sq.ft in 2017. The value then rose significantly by 49% to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the years not listed in the register for this street. The overall increase from 2002 to 2024 is 511%.

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. Valleswaran Thottam 2nd Street's 2024 figure is below this median.

• Valleswaran Thottam 1st 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)
• Vaniampathi Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valleswaran Thottam 2nd Street

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 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valleswaran Thottam 2nd Street?

The Sub Registrar Office that covers Valleswaran Thottam 2nd 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 factor when it comes to property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Valleswaran Thottam 2nd Street?

The current guideline value of Valleswaran Thottam 2nd 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, reflecting an overall increase of 511% over this period.

What is the stamp duty for property in Valleswaran Thottam 2nd Street?

The stamp duty for property in Valleswaran Thottam 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Valleswaran Thottam 2nd Street?

The Sub Registrar Office for Valleswaran Thottam 2nd Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What are the other guideline values in Mylapore?

In Mylapore, the guideline values range from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Valleswaran Thottam 2nd Street's value is below this median.