Guideline Value

Corporate

Guideline Value for Vallal kari Street

₹3850/sq.ft.

The guideline value for Vallal Kari Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vallal Kari Street

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Vallal kari Street guideline value

The current guideline value of Vallal kari Street in Madipakkam-1 village, under the Velacheri SRO, is Rs 3,850 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Vallal kari Street has changed

The guideline value of Vallal kari Street has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. However, in 2023, the guideline value was set at Rs 3,500 per sq.ft, which was then revised to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

This increase reflects the changes in the valuation of properties in the area. The current figure of Rs 3,850 per sq.ft is now the latest revision since the 2023 value. The guideline value has seen a consistent upward trend in recent years, with the latest revision indicating a significant adjustment.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,750 per sq.ft, placing Vallal kari Street's 2024 figure above this median.

Stamp duty and registration fee for property in Vallal kari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration fees would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallal kari Street?

The Vallal kari Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is used to assess the appropriate duty payable. If the sale price is higher than the guideline value, the duty is calculated based on the sale price. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vallal kari Street?

The current guideline value of Vallal kari Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is lower than the current value of Vallal kari Street.

What are the stamp duty and registration fees for property in Vallal kari Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value or the sale price.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.