Guideline Value for Vallalar Nagar 1st Street

Vallalar Nagar 1st Street guideline value

The current guideline value of Vallalar Nagar 1st Street is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - III.

How the guideline value of Vallalar Nagar 1st Street has changed

The guideline value for Vallalar Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,900 per sq.ft, which then decreased to Rs 1,273 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,900 per sq.ft in 2023, and most recently, it has risen to Rs 2,000 per sq.ft in the 2024 revision, marking a 5% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The overall change from the 2012 revision to the current 2024 value reflects a modest increase of 5%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Vallalar Nagar 1st Street's 2024 value below that median.

• Vallalar Nagar 2nd Street: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar 3rd Street: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar 4th Street: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar 5th Street: Rs 2,000 per sq.ft (2024)
• Vallalar Nagar 6th Street: Rs 2,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Nagar 1st Street?

The Vallalar Nagar 1st Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Thirumullaivoyal. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark to prevent undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Vallalar Nagar 1st Street is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,900 per sq.ft in 2012 to Rs 1,273 per sq.ft in 2017, then to Rs 1,900 per sq.ft in 2023, and finally to Rs 2,000 per sq.ft in 2024.

What is the median guideline value in Thirumullaivoyal?

The median guideline value for streets in Thirumullaivoyal is Rs 2,400 per sq.ft, which is higher than the current value of Vallalar Nagar 1st Street.

What are the stamp duty and registration fees for property in Vallalar Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would be Rs 1,80,000.

Which office handles registrations for Vallalar Nagar 1st Street?

The Ambattur Sub Registrar Office handles registrations for Vallalar Nagar 1st Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.