Guideline Value for Vallalar 1st Street

Vallalar 1st Street guideline value

The current guideline value of Vallalar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vallalar 1st Street has changed

The guideline value for Vallalar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,700 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, placing Vallalar 1st Street's 2024 figure above this median.

• Vallalar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vallalar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 3rd Street: Rs 2,700 per sq.ft (2024)
• Vallalar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vallalar 1st Street?

The Vallalar 1st Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government regulations.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Vallalar 1st Street?

The current guideline value of Vallalar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Vallalar 1st Street?

Vallalar 1st Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.