Guideline Value for VALLUVAR STREET EXTN.,

Valluvar Street Extn., guideline value

The current guideline value for Valluvar Street Extn., in Arumbakkam village, under the Kodambakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Valluvar Street Extn., has changed

Over the years, the guideline value for Valluvar Street Extn. has undergone several revisions. The 2007 revision set the value at Rs 1,150 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 378%. However, the value dropped to Rs 3,685 per sq.ft in 2017, a decrease of 33%. The value then saw a substantial increase to Rs 5,500 per sq.ft in 2023, followed by another rise to Rs 6,000 per sq.ft in 2024, reflecting a 9% increase.

There are no figures available for Valluvar Street Extn. in the years 2002 and 2003. The overall change from the 2007 figure to the 2024 figure is an increase of 422%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have 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 guideline value for Valluvar Street Extn.

• Valluvar Road: 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 Street Extn.,

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Valluvar Street Extn.,?

The Sub Registrar Office that covers Valluvar Street Extn. 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the buyer must pay 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 in the area.

Frequently asked questions

What is the current guideline value for Valluvar Street Extn.?

The current guideline value for Valluvar Street Extn. 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 1,150 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 422%.

What are the other streets with guideline values in Arumbakkam?

Other streets in Arumbakkam include Valluvar Road at Rs 6,000 per sq.ft, Valliammal Street at Rs 3,300 per sq.ft, and Vallalar Street at Rs 3,800 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Valluvar Street Extn.?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,40,000.

Where is the Kodambakkam Sub Registrar Office located?

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