Guideline Value for VALLUVAN STREET

Valluvan Street guideline value

The current guideline value of Valluvan Street in Purasaivakkam village, under the Purasaivakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - III.

How the guideline value of Valluvan Street has changed

Over the years, the guideline value for Valluvan Street has seen significant changes. The earliest recorded revision is from 2007, where the guideline value was Rs 1,800 per sq.ft. This increased dramatically to Rs 5,500 per sq.ft in 2012, marking a rise of 206%. However, it then dropped to Rs 3,685 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 5,500 per sq.ft in 2023, followed by the latest revision to Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

The revisions for the years 2002 and 2003 have no figures recorded for Valluvan Street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

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, with a median value of Rs 5,500 per sq.ft. Valluvan Street's 2024 figure is above this median.

• Valluva Pandaram Street: Rs 5,500 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 Valluvan Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the 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 Valluvan Street?

The Sub Registrar Office that covers Valluvan 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

When buying or selling property in Purasaivakkam, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is used by the registration department to calculate the duties that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in real estate dealings.

Frequently asked questions

What is the current guideline value of Valluvan Street?

The current guideline value of Valluvan Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the land classification for Valluvan Street?

Valluvan Street is classified as Residential Class III Type - III, which indicates its designated use for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Valluvan Street is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

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