Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Vengambakkam village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft. Following this, the value saw a significant increase to Rs 400 per sq.ft in the 2023 revision, and subsequently rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are a total of 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, indicating that Vallalar Street's 2024 figure is below this median.

• Vamanan Small City: Rs 3,300 per sq.ft (2024)
• Vasantham Avenue Extension: Rs 1,430 per sq.ft (2024)
• Thulukanathaman Koil Street: Rs 440 per sq.ft (2024)
• Thulukanathaman Koil Road: Rs 440 per sq.ft (2024)
• Thulukanathaman Koil Cross Street: Rs 440 per sq.ft (2024)
• Thoppu Street: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges together to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Vengambakkam. 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 used to calculate the applicable fees, ensuring that the transaction is processed according to the prevailing rates set by the Registration Department. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 440 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 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Vallalar Street?

Vallalar Street is classified as Residential Class I Type - III under the Tambaram Joint 1 SRO.

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

Other streets in Vengambakkam include Vamanan Small City at Rs 3,300 per sq.ft, Vasantham Avenue Extension at Rs 1,430 per sq.ft, and several streets at Rs 440 per sq.ft.

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

The Sub Registrar Office covering Vallalar Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.