Guideline Value for VALLIAMMAL STREET

Valliammal Street guideline value

The current guideline value of Valliammal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Valliammal Street has changed

The guideline value for Valliammal Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 332 per sq.ft. This value increased to Rs 366 per sq.ft in 2003, marking a 10% rise. The subsequent revision in 2007 saw a significant increase to Rs 700 per sq.ft, representing a 91% jump. By 2012, the value had risen to Rs 3,000 per sq.ft, reflecting a substantial increase of 329% from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased to the current figure of Rs 3,300 per sq.ft in 2024, showing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 894%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Valliammal Street's 2024 figure below that median.

• Valluvar Road: Rs 6,000 per sq.ft (2024)
• Valluvar Street Extn.,: Rs 6,000 per sq.ft (2024)
• Vallalar Street: Rs 3,800 per sq.ft (2024)
• Vasuki Street: Rs 4,400 per sq.ft (2024)
• Vathalakundu Arumugam Nagar: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar III Rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Valliammal Street?

The Sub Registrar Office that covers Valliammal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is used to determine the minimum value for which the property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Valliammal Street?

The current guideline value of Valliammal 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 increased from Rs 332 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 894%.

What is the registration office for Valliammal Street?

The registration office for Valliammal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties on Valliammal Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.

What are the guideline values of other streets in Arumbakkam?

Other streets in Arumbakkam have varying guideline values, with rates ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft.