Guideline Value for VALLI STREET

Valli Street guideline value

The current guideline value of Valli Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Valli Street has changed

Over the years, the guideline value of Valli Street has seen several revisions. The 2007 revision set the value at Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a substantial increase of 540%. However, the value then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The 2023 revision maintained the value at Rs 800 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%, reflecting the fluctuations in the property market over the years.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Valli Street's 2024 figure below this median.

• Vallalar Street: Rs 800 per sq.ft (2024)
• Valavan Street: Rs 800 per sq.ft (2024)
• Vaikai Street: Rs 1,300 per sq.ft (2024)
• Varalakshmi Nagar: Rs 1,300 per sq.ft (2024)
• Va.Voo.See. Street: Rs 1,300 per sq.ft (2024)
• Veenas Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valli Street?

The Sub Registrar Office that covers Valli Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Valli Street?

The current guideline value of Valli Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with significant changes noted in 2012 and 2017. The value increased from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Valli Street?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Valli Street?

The Manavalanagar Sub Registrar Office covers Valli Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Valli Street?

Valli Street is classified as Residential Class I Type - II, indicating its suitability for residential development within the area.