Guideline Value for Vallalar 3rd Cross Street

Vallalar 3rd Cross Street guideline value

The current guideline value of Vallalar 3rd 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 is classified as Residential Special Type - I.

How the guideline value of Vallalar 3rd Cross Street has changed

The guideline value for Vallalar 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as per the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 regarding this street.

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 3rd Cross Street above that median.

• Vallalar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vallalar 3rd Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Cross 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 3rd 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, 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar 3rd Cross Street?

The Vallalar 3rd Cross Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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 in the registration process of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on this value or the actual sale price, whichever is higher. This ensures transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Vallalar 3rd Cross Street?

The current guideline value of Vallalar 3rd 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

What is the land classification for Vallalar 3rd Cross Street?

Vallalar 3rd Cross Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in Vallalar 3rd Cross Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles the registration for Vallalar 3rd Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Vallalar 3rd Cross Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.