Guideline Value for VALLUVAR SALAI

Valluvar Salai guideline value

The current guideline value of Valluvar Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Valluvar Salai has changed

The guideline value for Valluvar Salai has seen several revisions over the years. In 2007, the guideline value was Rs 1,600 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking an increase of 213%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in 2024, reflecting a change of 10% from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Valluvar Salai is above this median.

• Vanchinathan Street: Rs 3,850 per sq.ft (2024)
• Umargayam Street: Rs 1,950 per sq.ft (2024)
• umadevai Street: Rs 1,950 per sq.ft (2024)
• Ulagathamman Koil Street: Rs 1,950 per sq.ft (2024)
• Veerabhadran Naiken Street: Rs 2,750 per sq.ft (2024)
• Udayar Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Salai

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, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that 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 Valluvar Salai?

The Sub Registrar Office that covers Valluvar Salai is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your SRO, you can visit the provided link.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buyers or sellers engage in property transactions, the guideline value helps in establishing a fair price for the property. This value is used to calculate the stamp duty and registration fees, which are essential components of the property registration process.

Frequently asked questions

What is the current guideline value of Valluvar Salai?

The current guideline value of Valluvar Salai 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 seen several changes, starting from Rs 1,600 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 244% over the years.

What is the land classification for Valluvar Salai?

Valluvar Salai is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Valluvar Salai?

The Sub Registrar Office for Valluvar Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Valluvar Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.