Guideline Value for Vallalar Street (Nilamangai Nagar)

Vallalar Street (Nilamangai Nagar) guideline value

The current guideline value of Vallalar Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Vallalar Street (Nilamangai Nagar) has changed

The guideline value for Vallalar Street (Nilamangai Nagar) has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value significantly increased to Rs 3,500 per sq.ft in the 2023 revision, and then rose again to Rs 3,900 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which aligns with the current value of Vallalar Street (Nilamangai Nagar).

• vallMigi Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Valluvar Street: Rs 3,900 per sq.ft (2024)
• ValMeegi Street Kundrakudi Nagar: Rs 3,900 per sq.ft (2024)
• Vaigai Street (Bharath Nagar): Rs 3,900 per sq.ft (2024)
• Vanjinathan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanuvampet - Pazhandiyamman Koil Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street (Nilamangai Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Vallalar Street (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Adambakkam. 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 buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall transaction costs. Buyers should ensure that the sale price is at least equal to the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Vallalar Street (Nilamangai Nagar)?

The current guideline value of Vallalar Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 3,500 per sq.ft in 2012, decreasing to Rs 2,345 per sq.ft in 2017, and then increasing to Rs 3,500 per sq.ft in 2023, before reaching Rs 3,900 per sq.ft in 2024.

What is the land classification for Vallalar Street (Nilamangai Nagar)?

Vallalar Street (Nilamangai Nagar) is classified as Residential Class I Type - III, indicating its designation for residential use.

Where can I find the registration office for properties in Vallalar Street?

The registration office for properties in Vallalar Street (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Vallalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000, along with a registration fee of Rs 78,000.