Guideline Value for VALMIKI STREET

Valmiki Street guideline value

The current guideline value of Valmiki Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - I.

How the guideline value of Valmiki Street has changed

Over the years, the guideline value of Valmiki Street has seen significant changes. The 2002 revision recorded a value of Rs 1,742 per sq.ft, which increased to Rs 1,934 per sq.ft in 2003, marking a change of +11%. By 2007, the value jumped to Rs 3,000 per sq.ft, reflecting a substantial increase of +55%. The 2012 revision saw the value rise to Rs 13,000 per sq.ft, a remarkable increase of +333%. However, in 2017, the value decreased to Rs 8,710 per sq.ft, showing a decline of -33%. The guideline value then climbed to Rs 13,000 per sq.ft in 2023, before reaching the current value of Rs 14,300 per sq.ft in 2024, which is an increase of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +721%. There are no figures available in the register for revisions in years other than those mentioned above.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Valmiki Street above this median.

• Varadaraja Mudali Street: Rs 6,600 per sq.ft (2024)
• Vasan Street: Rs 13,200 per sq.ft (2024)
• Vaidyaraman Street: Rs 14,300 per sq.ft (2024)
• Usman Road(Part I New Boag Road To Bus Stand: Rs 27,500 per sq.ft (2024)
• Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road): Rs 27,500 per sq.ft (2024)
• Usman Road (Part II Bus Stand To Pangal Park): Rs 27,500 per sq.ft (2024)

Stamp duty and registration fee for property in Valmiki Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. 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 information.

Which Sub Registrar Office covers Valmiki Street?

The Sub Registrar Office that covers Valmiki Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the officially assessed value of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Valmiki Street?

The current guideline value of Valmiki Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,742 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of +721% over this period.

What is the land classification for Valmiki Street?

Valmiki Street is classified as Mixed Special Type - I under the current land classification.

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

The Sub Registrar Office covering Valmiki Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated for property in Valmiki Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 12,87,000 in duties.