Guideline Value for Valayapadhi 2nd Cross Street

Valayapadhi 2nd Cross Street guideline value

The current guideline value of Valayapadhi 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Valayapadhi 2nd Cross Street has changed

The guideline value for Valayapadhi 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 figure of Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, followed by a further increase of 10% in the 2024 revision, bringing the current value to Rs 1,650 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Valayapadhi 2nd Cross Street.

• Valayapadhi 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Valayapadhi 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Valayapadhi 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Valayapadhi Street: Rs 1,980 per sq.ft (2024)
• Valaiyapathi Extn: Rs 1,650 per sq.ft (2024)
• Vadivudai Amman koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Valayapadhi 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, leading to a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Valayapadhi 2nd Cross Street?

The Sub Registrar Office that covers Valayapadhi 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor in the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Valayapadhi 2nd Cross Street?

The current guideline value of Valayapadhi 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49% from Rs 1,005 per sq.ft to Rs 1,500 per sq.ft.

What is the registration office for Valayapadhi 2nd Cross Street?

The registration office for Valayapadhi 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

What is the land classification for Valayapadhi 2nd Cross Street?

The land classification for Valayapadhi 2nd Cross Street is Residential Class I Type - II, indicating its suitability for residential purposes.