Guideline Value for Vallal Kumanan Street

Vallal Kumanan Street guideline value

The current guideline value of Vallal Kumanan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vallal Kumanan Street has changed

The guideline value for Vallal Kumanan Street has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 2,500 per sq.ft in 2023, which increased by 10% to Rs 2,750 per sq.ft in 2024.

Prior to the 2023 revision, there were no recorded figures for the street. The 2024 revision aligns with the median guideline value of Rs 2,750 per sq.ft for the 1,823 streets in Madipakkam-1 under the Velacheri SRO, which range from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for various streets reflect a range of Rs 1,650 to Rs 5,500 per sq.ft, with the median being Rs 2,750 per sq.ft. Vallal Kumanan Street's 2024 figure is equal to this median.

• Vallal Kari Street(Srinivasa Nagar Extn): Rs 3,850 per sq.ft (2024)
• Vallal Ori Street: Rs 3,850 per sq.ft (2024)
• Vallal kari Street: Rs 3,850 per sq.ft (2024)
• Vallal Athiyaman Street: Rs 3,850 per sq.ft (2024)
• Vallal Pari Street: Rs 2,750 per sq.ft (2024)
• Vanjinathan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Kumanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallal Kumanan Street?

The Sub Registrar Office that covers Vallal Kumanan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallal Kumanan Street?

The current guideline value of Vallal Kumanan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value was Rs 2,500 per sq.ft in 2023 and increased by 10% to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vallal Kumanan Street?

Vallal Kumanan Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Vallal Kumanan Street?

The Velacheri Sub Registrar Office covers Vallal Kumanan Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Vallal Kumanan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.