Guideline Value for VALLUVAR NAGAR

Valluvar Nagar guideline value

The current guideline value of Valluvar Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this area is Industries Type - I.

How the guideline value of Valluvar Nagar has changed

The guideline value for Valluvar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which then decreased to Rs 1,809 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,700 per sq.ft in the 2023 revision, and the latest revision in 2024 has brought it to Rs 2,900 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 7% in the guideline value.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, which is the same as the guideline value for Valluvar Nagar.

• Varadharaja Perumal Koil Street: Rs 2,900 per sq.ft (2024)
• Vasiyam Garden: Rs 3,300 per sq.ft (2024)
• Velan Nagar: Rs 2,900 per sq.ft (2024)
• T.V. Nagar: Rs 2,900 per sq.ft (2024)
• Venba Avenue: Rs 2,900 per sq.ft (2024)
• Venba Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty is charged at 7%, which would be Rs 2,03,000, and the registration fee is 2%, amounting to Rs 58,000. The total cost for these fees together is Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Nagar?

The Sub Registrar Office that covers Valluvar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitthalapakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Valluvar Nagar?

The current guideline value of Valluvar Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase. It decreased from Rs 2,700 in 2012 to Rs 1,809 in 2017, and then increased to Rs 2,700 in 2023.

What is the land classification for Valluvar Nagar?

The land classification for Valluvar Nagar is Industries Type - I, indicating its suitability for industrial purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 2,900 per sq.ft incurs a total guideline value of Rs 29,00,000, with applicable fees calculated from this amount.