Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Puthagaram village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it saw a substantial increase of 49%. Overall, from 2012 to 2024, the value has increased by 7%. The register has no figures for Vallalar Street for the years 2002, 2003, and 2007.

Guideline values in Puthagaram

In Puthagaram village, there are 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. Vallalar Street's 2024 guideline value is below this median.

• Valluvar Street: Rs 1,600 per sq.ft (2024)
• Vanavan Nagar: Rs 2,200 per sq.ft (2024)
• Vanavan Nagar Extention: Rs 2,200 per sq.ft (2024)
• Uma Nagar: Rs 1,900 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,201 per sq.ft (2024)
• Velmurugan Nagar extention: Rs 2,201 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Puthagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the worth of the property in the eyes of the government. It is essential to consider this value during negotiations and final agreements to prevent any 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 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Vallalar Street?

Vallalar Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Vallalar Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Vallalar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,12,000.