Guideline Value for VALLI NAGAR ANNEX

Valli Nagar Annex guideline value

The current guideline value of Valli Nagar Annex is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Valli Nagar Annex has changed

The guideline value for Valli Nagar Annex has seen several revisions over the years. Starting from the 2012 revision, the value was set at Rs 500 per sq.ft. In the 2017 revision, it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the value increased to Rs 500 per sq.ft, followed by a further increase to Rs 550 per sq.ft in the 2024 revision, which is a 10% rise 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 for this street.

Guideline values in Pammathukulam

In Pammathukulam village, there are 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the guideline value of Valli Nagar Annex.

• Varadhammal Nagar - II: Rs 660 per sq.ft (2024)
• Vadivudaiamman Nagar: Rs 660 per sq.ft (2024)
• Varathammal Nagar: Rs 440 per sq.ft (2024)
• Vasanth Nagar: Rs 550 per sq.ft (2024)
• Velan City: Rs 550 per sq.ft (2024)
• Velan City Annex: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Valli Nagar Annex?

The Sub Registrar Office that covers Valli Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It determines the amount of stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Valli Nagar Annex?

The current guideline value of Valli Nagar Annex is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Valli Nagar Annex?

The land classification for Valli Nagar Annex is Residential Class II Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Valli Nagar Annex?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value is Rs 5,50,000, leading to a stamp duty of Rs 38,500.