Guideline Value for VALLIAMMAIYAR STREET (WARD -7)

Valliammaiyar Street (Ward -7) guideline value

The current guideline value of Valliammaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Valliammaiyar Street (Ward -7) has changed

The guideline value for Valliammaiyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,321 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for Valliammaiyar Street for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing the 2024 value of Valliammaiyar Street above that median.

• Vallal Seethakathi Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Vallal Patchaiappar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Vallal Pari Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vallal Mgr Street (Ward -4): Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammaiyar Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, while the registration fee at 2% would be Rs 26,420. Therefore, the total cost for stamp duty and registration fees together would be Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Valliammaiyar Street (Ward -7)?

The Sub Registrar Office that covers Valliammaiyar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Valliammaiyar Street (Ward -7)?

The current guideline value of Valliammaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, which is a 10% increase. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Valliammaiyar Street?

The land classification for Valliammaiyar Street (Ward -7) is Residential Special Type - V. This classification determines the type of development and usage allowed in the area.

Where can I find the Sub Registrar Office for Valliammaiyar Street?

The Sub Registrar Office for Valliammaiyar Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,21,000, the stamp duty would be calculated at 7% of this amount.