Guideline Value for Vallalar Street (M.G.R. Nagar)

Vallalar Street (M.G.R. Nagar) guideline value

The current guideline value of Vallalar Street (M.G.R. Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Vallalar Street (M.G.R. Nagar) has changed

The guideline value for Vallalar Street (M.G.R. Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 275% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, reflecting a 49% increase, and currently stands at Rs 3,300 per sq.ft after a 10% rise in 2024.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

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

• Vallalar Street (J.Pet): Rs 4,100 per sq.ft (2024)
• Vallal Pari Street: Rs 3,300 per sq.ft (2024)
• Valliammal Nagar: Rs 4,900 per sq.ft (2024)
• Valayapathi Street: Rs 3,300 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 (M.G.R. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Street (M.G.R. Nagar)?

The Sub Registrar Office that covers Vallalar Street (M.G.R. Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 in the registration process when buying or selling property in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Vallalar Street (M.G.R. Nagar)?

The current guideline value of Vallalar Street (M.G.R. Nagar) is Rs 3,300 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 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Vallalar Street (M.G.R. Nagar)?

The Ashok Nagar Sub Registrar Office handles the registration for Vallalar Street (M.G.R. Nagar). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where does Vallalar Street (M.G.R. Nagar) stand compared to other streets in Kodambakkam?

Vallalar Street (M.G.R. Nagar) has a guideline value of Rs 3,300 per sq.ft, which is below the median value of Rs 4,900 per sq.ft for other streets in Kodambakkam.