Guideline Value for Vallalar Street (J.Pet)

Vallalar Street (J.Pet) guideline value

The current guideline value of Vallalar Street (J.Pet) in Kodambakkam village, under the Ashok Nagar SRO, is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Vallalar Street (J.Pet) has changed

The guideline value for Vallalar Street (J.Pet) has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, it then decreased to Rs 2,512 per sq.ft in 2017. The value saw a substantial rise to Rs 3,750 per sq.ft in 2023, before reaching the current rate of Rs 4,100 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was an increase of 49%, followed by a further increase of 9% from 2023 to 2024. The overall increase from 2007 to 2024 is 413%, highlighting significant changes in the guideline value over these years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Vallalar Street (J.Pet) below this median.

• Vallalar Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Vallal Pari Street: Rs 3,300 per sq.ft (2024)
• Valayapathi Street: Rs 3,300 per sq.ft (2024)
• Valliammal Nagar: Rs 4,900 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street (J.Pet)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Street (J.Pet)?

The Sub Registrar Office that covers Vallalar Street (J.Pet) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the stamp duty. This ensures that the transaction is recorded fairly and in accordance with the current regulations.

Frequently asked questions

What is the current guideline value of Vallalar Street (J.Pet)?

The current guideline value of Vallalar Street (J.Pet) is Rs 4,100 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 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What is the land classification for Vallalar Street (J.Pet)?

Vallalar Street (J.Pet) is classified as Residential Class IV Type - I.

What is the stamp duty rate for properties in Vallalar Street (J.Pet)?

The stamp duty rate for properties in Vallalar Street (J.Pet) is 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vallalar Street (J.Pet)?

The Sub Registrar Office for Vallalar Street (J.Pet) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, under the Ashok Nagar SRO.