Guideline Value for Vallalal Street

Vallalal Street guideline value

The current guideline value of Vallalal Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Vallalal Street has changed

The guideline value of Vallalal Street has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 384 per sq.ft. This increased significantly to Rs 457 per sq.ft in 2003, marking a 19% rise. The value further escalated to Rs 2,500 per sq.ft in 2007, representing a substantial increase of 447%. In 2012, the guideline value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision. The next revision in 2017 brought the value back up to Rs 2,345 per sq.ft.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and in 2024, it reached the current figure of Rs 3,900 per sq.ft, reflecting an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 916%. There are no figures available for the revisions in years not listed.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the current guideline value for Vallalal Street.

• Vaidegi Street: Rs 3,900 per sq.ft (2024)
• Vargiswar Avenue: Rs 3,900 per sq.ft (2024)
• Vasudevan Street: Rs 3,300 per sq.ft (2024)
• Thulukkathamman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the 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 Vallalal Street?

The Adayar Sub Registrar Office covers Vallalal Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in the eyes of the law.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vallalal Street?

The current guideline value of Vallalal Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 916% over the years.

What is the stamp duty rate for properties in Vallalal Street?

The stamp duty rate for properties in Vallalal Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vallalal Street?

The Sub Registrar Office for Vallalal Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification of Vallalal Street?

The land classification of Vallalal Street is Residential Class II Type - I, indicating its suitability for residential purposes.