Guideline Value for Vallalar Nagar

Vallalar Nagar guideline value

The current guideline value of Vallalar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Vallalar Nagar has changed

Over the years, the guideline value for Vallalar Nagar has seen several revisions. In 2002, the value was Rs 79 per sq.ft, which increased significantly to Rs 344 per sq.ft in 2007, marking a rise of 335%. This was followed by a substantial increase to Rs 1,500 per sq.ft in 2012, representing a 336% increase. However, between 2012 and 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and has remained the same in the 2024 revision, showing no percentage change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2002 to 2024, the guideline value has risen by 1,799%, reflecting the changes in the real estate landscape over the years. It is important to note that the register has no figure for Vallalar Nagar for the year 2003.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, making Vallalar Nagar's current guideline value equal to this median.

• Valluvar Colony: Rs 1,200 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)
• Usha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Usha Nagar: Rs 1,200 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 2,000 per sq.ft (2024)
• Vasantham Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value comes to Rs 15,00,000. The stamp duty, charged at 7%, amounts to Rs 1,05,000, while the registration fee, at 2%, totals Rs 30,000. Together, the total cost for stamp duty and registration fee would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Nagar?

The Vallalar Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Nandhivaram. It serves as the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's worth.

When buying or selling property, both the buyer and seller must consider the guideline value to determine the applicable fees. This value helps in establishing a fair price for the transaction and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Vallalar Nagar?

The current guideline value of Vallalar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 79 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting a total increase of 1,799% over the years.

What are the stamp duty and registration fees in Vallalar Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which Sub Registrar Office covers Vallalar Nagar?

The Gooduvancheri Sub Registrar Office covers Vallalar Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of Vallalar Nagar?

Vallalar Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.