Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Vallalar Street has changed

Over the years, the guideline value for Vallalar Street has seen several revisions. The earliest recorded figure is from 2007, when it was Rs 60 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 900%. In 2017, the value adjusted to Rs 402 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 600 per sq.ft, unchanged from the previous year. As of the 2024 revision, the guideline value remains at Rs 600 per sq.ft, reflecting no change from 2023.

It is important to note that there are no figures available for Vallalar Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which aligns with the current guideline value of Vallalar Street.

• VallaKottai Murugan Nagar: Rs 605 per sq.ft (2024)
• Vadivambal Nagar: Rs 600 per sq.ft (2024)
• Thornas Street: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 600 per sq.ft (2024)
• Thiruvallur Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road (Up to Anthaiya Naidu Nagar): Rs 1,800 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty, charged at 7%, would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000. Together, these fees would total Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street?

The Vallalar Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value serves as a reference point for property transactions in Molachoor. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value is compared to the sale price of the property. The higher value will be used to calculate the stamp duty, which is a crucial step in the property transfer process.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and remained at Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Vallalar Street?

Vallalar Street is classified as Residential Special Type - III under the current guidelines.

Where can I find the Sub Registrar Office for Vallalar Street?

The Sub Registrar Office covering Vallalar Street is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, leading to specific fees based on that amount.