Guideline Value for VALLUVA PANDARAM STREET

Valluva Pandaram Street guideline value

The current guideline value of Valluva Pandaram Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Valluva Pandaram Street has changed

The guideline value for Valluva Pandaram Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the guideline value increased by 355% from 2007 to 2012, then decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and a further rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which is equal to the current value of Valluva Pandaram Street. Below are other streets in Purasaivakkam:

• Valluvan Street: Rs 6,000 per sq.ft (2024)
• Valliammal Street: Rs 8,800 per sq.ft (2024)
• Vallam Bangaru Chetty Street: Rs 6,000 per sq.ft (2024)
• Vali Hussain Street: Rs 5,500 per sq.ft (2024)
• Varadachari Lane: Rs 4,900 per sq.ft (2024)
• Varadammal Garden 1st Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Valluva Pandaram Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total fees would be Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluva Pandaram Street?

The Sub Registrar Office that covers Valluva Pandaram Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When you register a property, the guideline value helps determine the official value of the transaction. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Valluva Pandaram Street?

The current guideline value of Valluva Pandaram Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the land classification of Valluva Pandaram Street?

Valluva Pandaram Street is classified as Residential Class III Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Valluva Pandaram 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 fees would amount to Rs 4,95,000.