Guideline Value for VALLUVAR NAGAR

Valluvar Nagar guideline value

The current guideline value of Valluvar Nagar is Rs 7,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Valluvar Nagar has changed

The guideline value for Valluvar Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 1,274 per sq.ft. This increased to Rs 1,410 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,800 per sq.ft, which was a 28% increase from the previous revision. The value then jumped to Rs 6,500 per sq.ft in 2012, reflecting a substantial increase of 261%. However, it decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and most recently to Rs 7,150 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 461%. The register does not have figures for revisions in years other than those listed above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Valluvar Nagar's current value below this median.

• Valmeegi Nagar 1st Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 2nd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 3rd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 4th Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Street: Rs 7,150 per sq.ft (2024)
• Vaigai Street: Rs 11,000 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 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total cost for these fees Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Valluvar Nagar?

The Sub Registrar Office that covers Valluvar Nagar is 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. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvanmiyur. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Understanding the guideline value helps buyers and sellers accurately assess the costs involved in property transactions. It is essential to refer to the latest revisions to ensure compliance with the current rates set by the registration department.

Frequently asked questions

What is the current guideline value of Valluvar Nagar?

The current guideline value of Valluvar Nagar is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,274 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 461% over this period.

What are the stamp duty and registration fees for Valluvar Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 6,43,500, calculated based on the guideline value of Rs 71,50,000.

Which office handles registrations for Valluvar Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Valluvar Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, which is higher than the current value of Valluvar Nagar at Rs 7,150 per sq.ft.