Guideline Value for Vallaiyapathi Salai

Vallaiyapathi Salai guideline value

The current guideline value of Vallaiyapathi Salai is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Vallaiyapathi Salai has changed

The guideline value for Vallaiyapathi Salai has seen significant changes over the years. In 2002, the guideline value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. The value then rose to Rs 1,500 per sq.ft in 2007, followed by a substantial jump to Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017. The value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current value of Rs 8,800 per sq.ft in 2024.

Examining the changes between revisions, we see that from 2002 to 2024, the overall increase is 1,455%. The change from 2023 to 2024 is +10%, while the increase from 2017 to 2023 is +49%. The value decreased by 33% from 2012 to 2017 and increased significantly by 433% from 2007 to 2012. The jump from 2003 to 2007 was +141%, and from 2002 to 2003, it was +10%.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, making the current guideline value of Vallaiyapathi Salai above this median.

• Vallal Pari Street: Rs 8,800 per sq.ft (2024)
• Vallel Parri Nagar: Rs 7,100 per sq.ft (2024)
• Vandi Kalliamman Koil Street (a) Vandiamman Nagar: Rs 5,500 per sq.ft (2024)
• T.V.S. Nagar / Colony: Rs 7,100 per sq.ft (2024)
• T.S. Krishna Nagar: Rs 7,100 per sq.ft (2024)
• TNHB Mogappair West Block 8: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vallaiyapathi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallaiyapathi Salai?

The Sub Registrar Office that covers Vallaiyapathi Salai is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mugappair, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction is transparent and adheres to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vallaiyapathi Salai?

The current guideline value of Vallaiyapathi Salai is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 566 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 1,455% over the years.

What is the land classification for Vallaiyapathi Salai?

The land classification for Vallaiyapathi Salai is Commercial Class I Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Vallaiyapathi Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7%.