Guideline Value for VALMIKI STREET

Valmiki Street guideline value

The current guideline value of Valmiki Street in Enjambakkam village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Valmiki Street has changed

The guideline value for Valmiki Street has undergone several revisions over the years. In 2003, the guideline value was Rs 168 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then saw a remarkable rise of 400% to reach Rs 2,500 per sq.ft in 2012. However, it experienced a decline of 33% to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 raised the guideline value to Rs 2,800 per sq.ft, marking a 12% increase.

It is important to note that there is no figure available for Valmiki Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1,567%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Valmiki Street's current value above this median.

• Univesal Diamond Layout: Rs 2,800 per sq.ft (2024)
• Thuraikannu Lane: Rs 2,200 per sq.ft (2024)
• VETTUVANKENI 1st AVENUE: Rs 4,500 per sq.ft (2024)
• VETTUVANKENI 2nd AVENUE: Rs 4,500 per sq.ft (2024)
• Thiruvengadam Garden: Rs 2,200 per sq.ft (2024)
• V.G.P.Golden Beach: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Valmiki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valmiki Street?

The Sub Registrar Office that covers Valmiki Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Enjambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Valmiki Street?

The current guideline value of Valmiki Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 168 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,567% over this period.

What is the classification of Valmiki Street?

Valmiki Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Valmiki Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Valmiki Street located?

The Neelankarai Sub Registrar Office, which covers Valmiki Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.