Guideline Value for VALLUVAR ROAD

Valluvar Road guideline value

The current guideline value of Valluvar Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Valluvar Road has changed

The guideline value for Valluvar Road has seen several revisions over the years. In 2002, the value was Rs 620 per sq.ft, which increased to Rs 900 per sq.ft in 2003, marking a 45% rise. The value continued to increase, reaching Rs 1,350 per sq.ft in 2007, a significant jump of 50%. By 2012, the value was Rs 5,500 per sq.ft, reflecting a 307% increase from the previous revision. However, it decreased by 33% to Rs 3,685 per sq.ft in 2017. The value then rose again to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 868%. There are no figures available for the revisions of the years not listed for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is equal to the current guideline value of Valluvar Road.

• Valluvar Street Extn.,: Rs 6,000 per sq.ft (2024)
• Valliammal Street: Rs 3,300 per sq.ft (2024)
• Vallalar Street: Rs 3,800 per sq.ft (2024)
• Vasuki Street: Rs 4,400 per sq.ft (2024)
• Vathalakundu Arumugam Nagar: Rs 3,300 per sq.ft (2024)
• Vathalakundu Arumugam Nagar III Rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valluvar Road?

The Sub Registrar Office that covers Valluvar Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Arumbakkam. It serves as a base for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Valluvar Road?

The current guideline value of Valluvar Road 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 from Rs 620 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 868% over the years.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Valluvar Street Extn. at Rs 6,000 per sq.ft, Valliammal Street at Rs 3,300 per sq.ft, Vallalar Street at Rs 3,800 per sq.ft, Vasuki Street at Rs 4,400 per sq.ft, and Vathalakundu Arumugam Nagar at Rs 3,300 per sq.ft.

How is the stamp duty calculated for properties on Valluvar Road?

Stamp duty for properties on Valluvar Road is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 6,000 per sq.ft would incur a stamp duty of Rs 4,20,000.

Where is the Sub Registrar Office for Valluvar Road located?

The Sub Registrar Office for Valluvar Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.