Guideline Value for VALLIESWARAR KOIL CROSS STREET

Vallieswarar Koil Cross Street guideline value

The current guideline value of Vallieswarar Koil Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vallieswarar Koil Cross Street has changed

The guideline value for Vallieswarar Koil Cross Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then further to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%. The overall change from 2012 to 2024 reflects a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that the guideline value of Vallieswarar Koil Cross Street is below the median.

• Valleswaran Koil Street: Rs 2,200 per sq.ft (2024)
• Vadivel Mudaliyar Colony: Rs 2,200 per sq.ft (2024)
• Tvs Emerald Peninsula: Rs 3,750 per sq.ft (2024)
• Velavan Nagar: Rs 2,530 per sq.ft (2024)
• Velavan Nagar 1st Street: Rs 2,530 per sq.ft (2024)
• Velavan Nagar Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vallieswarar Koil Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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. 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 Vallieswarar Koil Cross Street?

The Vallieswarar Koil Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Manapakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps in assessing the fair price of the property for registration purposes. It is important for buyers and sellers to be aware of these values to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Vallieswarar Koil Cross Street?

The current guideline value of Vallieswarar Koil Cross Street 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 for Vallieswarar Koil Cross Street?

The land classification for Vallieswarar Koil Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total of Rs 1,98,000 in fees.

Which office handles the registration for Vallieswarar Koil Cross Street?

The registration for Vallieswarar Koil Cross Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.