Guideline Value for VALMIGI STREET

Valmigi Street guideline value

The current guideline value of Valmigi Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Valmigi Street has changed

The guideline value for Valmigi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Valmigi Street.

• Vallalar Street: Rs 2,200 per sq.ft (2024)
• Vaithiyalingam Street: Rs 2,200 per sq.ft (2024)
• Uthukulam @ Thiruvalluvar Street: Rs 2,200 per sq.ft (2024)
• Vedhachalam Nagar: Rs 2,200 per sq.ft (2024)
• Vedhachalam Street: Rs 2,200 per sq.ft (2024)
• Veera Anjaneyar Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Valmigi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valmigi Street?

The Sub Registrar Office that covers Valmigi Street 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. You can find your SRO here.

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

The guideline value plays a crucial role during property registration in Jelandianpettai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to reference the latest guideline values to ensure compliance with the registration requirements. 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 Valmigi Street?

The current guideline value of Valmigi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Valmigi Street?

Valmigi Street is classified as Residential Class II Type - I under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Valmigi Street?

The Sub Registrar Office for Valmigi Street 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 Jelandianpettai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is essential to consider the current guideline value when estimating these fees.