Guideline Value for Valayapathi Street

Valayapathi Street guideline value

The current guideline value of Valayapathi Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Valayapathi Street has changed

The guideline value of Valayapathi Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further rise to Rs 3,300 per sq.ft in 2024. Notably, the register has no figures for this street in 2002 and 2003.

From 2007 to 2024, the overall change in guideline value is an increase of 313%. The change from 2023 to 2024 is a rise of 10%, while the jump from 2017 to 2023 reflects a significant increase of 49%. The decrease from 2012 to 2017 was 33%, and the increase from 2007 to 2012 was a remarkable 275%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, positioning Valayapathi Street's 2024 value below this median.

• Vallalar Street (J.Pet): Rs 4,100 per sq.ft (2024)
• Vallalar Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Vallal Pari Street: Rs 3,300 per sq.ft (2024)
• Vadivelu Street Block 76: Rs 4,100 per sq.ft (2024)
• Vadivelpuram Block 84, 85: Rs 4,100 per sq.ft (2024)
• Vadivel Naicken Street Block 78: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Valayapathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Valayapathi Street?

The Sub Registrar Office that covers Valayapathi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to ensure that the sale price is aligned with the guideline value to avoid any legal issues during registration. The guideline value serves as a benchmark for both buyers and sellers, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Valayapathi Street?

The current guideline value of Valayapathi Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 313% over the years.

What is the registration office for Valayapathi Street?

The registration office for Valayapathi Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Valayapathi Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

What are the other streets with guideline values in Kodambakkam?

Other streets in Kodambakkam include Vallalar Street (J.Pet) at Rs 4,100 per sq.ft, Vallalar Street (M.G.R. Nagar) at Rs 3,300 per sq.ft, and Vadivelu Street Block 76 at Rs 4,100 per sq.ft, among others.