Guideline Value for Valaiyapathy Street

Valaiyapathy Street guideline value

The current guideline value of Valaiyapathy Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Valaiyapathy Street has changed

The guideline value for Valaiyapathy Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 8% from 2012 to 2024.

Guideline values in Rajakilpakkam

Rajakilpakkam village has a total of 384 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing Valaiyapathy Street's 2024 value above this median.

• Vakboard Colony: Rs 880 per sq.ft (2024)
• Vallalar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vallalar 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valaiyapathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Valaiyapathy Street?

The Sub Registrar Office that covers Valaiyapathy Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per the government’s assessment.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Valaiyapathy Street?

The current guideline value of Valaiyapathy Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Valaiyapathy Street?

Valaiyapathy Street is classified as Residential Special Type - I under the land classification guidelines.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, the fees can include a stamp duty at 7% and a registration fee at 2% of the guideline value.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.