Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Thalakanancherry village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class II Type - II.

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 value was Rs 700 per sq.ft, which saw a significant increase to Rs 2,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017. The following revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

It is important to note that the register has no figures for Vallalar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, meaning Vallalar Street's current guideline value is below this median.

• Union carbide Colony: Rs 4,400 per sq.ft (2024)
• Ullagaram Street: Rs 4,400 per sq.ft (2024)
• T.T.C. Garden: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony Main Road: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony Main: Rs 4,400 per sq.ft (2024)
• T.N.G.O. Colony 7th Street: Rs 4,400 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 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification for Vallalar Street?

Vallalar Street is classified as Residential Class II Type - II according to the current guidelines.

What are the stamp duty and registration fees for property in Vallalar Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Vallalar Street?

The Alandur Sub Registrar Office handles registrations for Vallalar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.