Guideline Value for Vallal Pari Street

Vallal Pari Street guideline value

The current guideline value of Vallal Pari Street 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 Vallal Pari Street has changed

Over the years, the guideline value of Vallal Pari Street has seen significant changes. The earliest recorded figure is from 2003, when the guideline value was Rs 700 per sq.ft. This increased to Rs 1,500 per sq.ft in 2007, marking a substantial rise of 114%. The value then jumped to Rs 8,000 per sq.ft in 2012, reflecting a remarkable increase of 433%. However, it decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 8,000 per sq.ft in 2023, and finally reached Rs 8,800 per sq.ft in 2024, representing a 10% increase from the previous year.

The register has no figure for Vallal Pari Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 1157%.

Guideline values in Mugappair

In Mugappair, 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 Vallal Pari Street's 2024 figure above this median.

• Vallel Parri Nagar: Rs 7,100 per sq.ft (2024)
• Vallaiyapathi Salai: Rs 8,800 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)
• Veeramamunivar Salai: Rs 5,500 per sq.ft (2024)
• T.S. Krishna Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vallal Pari Street

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the 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, totaling Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallal Pari Street?

The Sub Registrar Office that covers Vallal Pari Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Mugappair. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating the duty.

When buying a property, it is essential to check the guideline value to understand the potential costs involved. This value is set by the government and is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Vallal Pari Street?

The current guideline value of Vallal Pari Street 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 from Rs 700 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 1157%.

What is the land classification for Vallal Pari Street?

The land classification for Vallal Pari Street is Commercial Class I Type - I.

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

The Konnur Sub Registrar Office covers Vallal Pari Street and is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

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

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