Guideline Value for Valaiyapathy Street

Valaiyapathy Street guideline value

The current guideline value of Valaiyapathy Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Valaiyapathy Street has changed

The guideline value for Valaiyapathy Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 400 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, reflecting a rise of 275%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 1,500 per sq.ft in 2023, followed by a further rise to the current value of Rs 1,600 per sq.ft in 2024, marking a 7% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the value has risen by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Valaiyapathy Street's 2024 figure below this median.

• Vaikkam Veerar Street: Rs 1,400 per sq.ft (2024)
• Vallalar street: Rs 2,750 per sq.ft (2024)
• Valmiki Street: Rs 3,300 per sq.ft (2024)
• Vanjinathan Street: Rs 1,300 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 per sq.ft (2024)
• Varadarajapuram: Rs 850 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 information.

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

The guideline value is a critical factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Valaiyapathy Street?

The current guideline value of Valaiyapathy Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for properties on Valaiyapathy Street?

The stamp duty for a property on Valaiyapathy Street 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 1,44,000.

Which office handles property registrations in Selaiyur?

The Selaiyur Sub Registrar Office handles property registrations in Selaiyur, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Valaiyapathy Street?

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