Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Hastinapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram 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 undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The next revision in 2023 saw the value rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for Vallalar Street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Vallalar Street's 2024 figure below this median.

• Valluvar Cross Street: Rs 2,380 per sq.ft (2024)
• Valluvar Street: Rs 2,380 per sq.ft (2024)
• Varadharajan Street: Rs 3,850 per sq.ft (2024)
• Thoilkapiyam Street: Rs 2,970 per sq.ft (2024)
• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)
• Thiyagarajan Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

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

Other streets in Hastinapuram include Valluvar Cross Street and Valluvar Street at Rs 2,380 per sq.ft, Varadharajan Street and Thiyagarayar Road at Rs 3,850 per sq.ft, and Thiyagarajan Street at Rs 2,420 per sq.ft.

What is the stamp duty rate for properties in Vallalar Street?

The stamp duty rate for properties in Vallalar Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vallalar Street located?

The Sub Registrar Office for Vallalar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.