Guideline Value for Vallakottai Murugan Nagar

Vallakottai Murugan Nagar guideline value

The current guideline value of Vallakottai Murugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the jurisdiction of the Sriperumpudur SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Vallakottai Murugan Nagar has changed

The guideline value for Vallakottai Murugan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft in 2023. The 2024 revision maintained this figure, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 200 per sq.ft, indicating stability in this period.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of Vallakottai Murugan Nagar.

• Vallakottai Velavan Nagar: Rs 200 per sq.ft (2024)
• Vallakottai Velavan Nagar Extension: Rs 601 per sq.ft (2024)
• Velalar street: Rs 300 per sq.ft (2024)
• Velavan Nagar: Rs 200 per sq.ft (2024)
• Thirumuruga Variyar Nagar: Rs 410 per sq.ft (2024)
• Victoria Town: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vallakottai Murugan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vallakottai Murugan Nagar?

The Vallakottai Murugan Nagar area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Vallam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the registration fees and stamp duties are calculated fairly.

When buying or selling property, the guideline value helps in assessing the tax implications and ensuring compliance with local regulations. It is advisable for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vallakottai Murugan Nagar?

The current guideline value of Vallakottai Murugan Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a drop to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification for Vallakottai Murugan Nagar?

The land classification for Vallakottai Murugan Nagar is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty 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 18,000.

Where is the Sub Registrar Office for Vallakottai Murugan Nagar located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.