Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Vallam village is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has seen several revisions over the years. The earliest recorded figure is Rs 173 per sq.ft from the 2007 revision. This value increased significantly to Rs 750 per sq.ft in the 2012 revision, marking a growth of 334%. However, it dropped to Rs 502 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision maintained the value at Rs 750 per sq.ft, with no change from the previous year. The current 2024 revision also keeps the value at Rs 750 per sq.ft, resulting in a 0% change from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 334%.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO that have a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Vallalar Street's 2024 figure is below this median.

• Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Thirumalai Govinthan Nagar: Rs 750 per sq.ft (2024)
• TGM Nagar: Rs 850 per sq.ft (2024)
• Sri Venkatesvara Nagar: Rs 1,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,000 per sq.ft (2024)
• Sri Balaji nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty, charged at 7%, would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions keeping it steady at Rs 750 per sq.ft since 2023. The value has increased from Rs 173 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and has remained unchanged since.

What are the stamp duty and registration fees for properties on Vallalar Street?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500. These fees are based on the guideline value.

Which office handles property registrations for Vallalar Street?

The Chengleput Joint I Sub Registrar Office handles property registrations for Vallalar Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

Are there other streets in Vallam with different guideline values?

Yes, there are other streets in Vallam with varying guideline values ranging from Rs 750 to Rs 1,000 per sq.ft. Vallalar Street's value is on the lower end of this range.