Guideline Value for VALLIVEL NADAR STREET

Vallivel Nadar Street guideline value

The current guideline value of Vallivel Nadar Street is Rs 1,001 per sq.ft. This street is located in Chinnasekkadu village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vallivel Nadar Street has changed

The guideline value for Vallivel Nadar Street has seen several revisions over the years. In 2002, the value was Rs 74 per sq.ft, which increased to Rs 86 per sq.ft in 2003, marking a change of +16%. The value then rose significantly to Rs 200 per sq.ft in 2007, a change of +133%. Following this, in 2012, the value was revised to Rs 600 per sq.ft, reflecting a +200% increase. However, from 2017, the value dropped to Rs 402 per sq.ft, which was a decrease of -33% compared to the previous revision. The 2023 revision set the value at Rs 1,000 per sq.ft, and the current 2024 revision has slightly increased it to Rs 1,001 per sq.ft, showing no percentage change.

Overall, from 2002 to 2024, the guideline value has increased by +1253%. The register has no figures for the years not specifically mentioned for this street.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Vallivel Nadar Street's 2024 guideline value is below this median.

• Vedhachalam Street: Rs 1,001 per sq.ft (2024)
• Vedhagiri Pillai Street: Rs 1,100 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,300 per sq.ft (2024)
• Thiruvengadam Street: Rs 1,001 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 per sq.ft (2024)
• V.O.C. Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vallivel Nadar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, leading to a total cost of Rs 90,090. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallivel Nadar Street?

The Sub Registrar Office that covers Vallivel Nadar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Chinnasekkadu, as it serves as a benchmark for determining the stamp duty and registration fees. When a property is bought or sold, the guideline value is used to calculate the applicable fees based on the property's value.

During the registration process, the guideline value ensures that the property is accurately assessed for taxation purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vallivel Nadar Street?

The current guideline value of Vallivel Nadar Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 74 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of +1253%.

What is the land classification for Vallivel Nadar Street?

Vallivel Nadar Street is classified as Residential Class II Type - I.

Where can I find the registration office for Vallivel Nadar Street?

The registration office for Vallivel Nadar Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Vallivel Nadar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 10,01,000, leading to a stamp duty of Rs 70,070.