Guideline Value for VALLI NAGAR

Valli Nagar guideline value

The current guideline value of Valli Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Valli Nagar has changed

The guideline value for Valli Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, the value significantly increased to Rs 2,000 per sq.ft, and then to Rs 2,200 per sq.ft in 2024, marking a 10% rise from the previous year.

Between the revisions, the changes are notable. The revision from 2012 to 2017 saw a decrease of 33%, while the jump from 2017 to 2023 represented an increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal village, there are 117 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Valli Nagar's 2024 figure below this median.

• Vadhabi Nagar: Rs 2,400 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Velachery Main Road: Rs 3,700 per sq.ft (2024)
• Tvs Emerald Aaranya: Rs 4,800 per sq.ft (2024)
• Velavan Colony: Rs 950 per sq.ft (2024)
• Vengaivaasal Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Valli Nagar?

The Sub Registrar Office that covers Valli Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a crucial factor when buying or selling property in Vengaivasal, as it determines the official value of the property for registration purposes. Buyers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value serves as a benchmark for the minimum price at which the property can be sold. This ensures that the government receives the appropriate taxes based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Valli Nagar?

The current guideline value of Valli Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Valli Nagar?

Valli Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Valli Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.