Guideline Value for Valajabad Road

Valajabad Road guideline value

The current guideline value of Valajabad Road in Mannivakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Commercial Class I Type - II.

How the guideline value of Valajabad Road has changed

The guideline value for Valajabad Road has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, this value decreased to Rs 1,005 per sq.ft in 2017, a reduction of 33%. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase.

Between 2017 and 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, indicating that Valajabad Road's 2024 figure is above this median.

• Tvh Titanium Cty: Rs 2,640 per sq.ft (2024)
• Tvh Titanium City-Phase -II: Rs 4,110 per sq.ft (2024)
• TVH TITANIUM CITY 168,169/1part,184/2A2,2A3,2A4,184/13: Rs 3,300 per sq.ft (2024)
• T.S.R Avenue: Rs 1,320 per sq.ft (2024)
• Thiruvengadam Nagar: Rs 990 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Valajabad Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valajabad Road?

The Valajabad Road falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Mannivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is not sold below a certain price.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Valajabad Road?

The current guideline value of Valajabad Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, rising from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 560%.

What is the land classification for Valajabad Road?

Valajabad Road is classified as Commercial Class I Type - II, which influences its guideline value and potential uses.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mannivakkam?

Stamp duty for properties in Mannivakkam is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.