Guideline Value for Vallalar 2nd Cross Street

Vallalar 2nd Cross Street guideline value

The current guideline value of Vallalar 2nd Cross 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Vallalar 2nd Cross Street has changed

The guideline value for Vallalar 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, which means there was a significant increase of 49% leading up to 2023. The 2012 revision also recorded a value of Rs 2,500 per sq.ft, indicating a decrease of 33% from 2017 to 2012. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register does not have figures for the revisions in 2002, 2003, and 2007 for this street. This lack of recorded values means we cannot assess the changes during those years.

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 value across these streets is Rs 2,150 per sq.ft, placing Vallalar 2nd Cross Street's 2024 figure above this median.

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

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vallalar 2nd Cross Street?

The Vallalar 2nd Cross Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of a property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with local regulations. This process is vital for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Vallalar 2nd Cross Street?

The current guideline value of Vallalar 2nd Cross 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 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the registration fee for property in Vallalar 2nd Cross Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Which office handles property registrations for Vallalar 2nd Cross Street?

The Selaiyur Sub Registrar Office is responsible for property registrations for Vallalar 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, maintaining transparency in real estate dealings.