Guideline Value for Vallalar Nagar

Vallalar Nagar guideline value

The current guideline value of Vallalar Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Vallalar Nagar has changed

The guideline value for Vallalar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and most recently to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but it has increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. Vallalar Nagar's 2024 figure of Rs 880 per sq.ft is below this median.

• Unnamalai Amman Nagar: Rs 765 per sq.ft (2024)
• V.G.N. Nagar: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar Extension: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar Extension II: Rs 1,210 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 885 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Nagar?

The Sub Registrar Office that covers Vallalar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Kannampalayam, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transfers.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. It is crucial for both parties to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Vallalar Nagar?

The current guideline value of Vallalar Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the other streets in Kannampalayam with their guideline values?

Other streets in Kannampalayam include Unnamalai Amman Nagar at Rs 765 per sq.ft, V.G.N. Nagar, V.G.V. Nagar, V.G.V. Nagar Extension, and V.G.V. Nagar Extension II at Rs 1,210 per sq.ft, and Sri Padmavathi Nagar at Rs 885 per sq.ft.

What fees are associated with buying property in Vallalar Nagar?

When buying property in Vallalar Nagar, you will need to pay stamp duty and registration fees based on the guideline value. For example, on a 1,000 sq.ft plot at Rs 880 per sq.ft, the total fees would amount to Rs 79,200.

Where is the Sub Registrar Office for Vallalar Nagar located?

The Sub Registrar Office for Vallalar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.