Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Koyakbedu village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Vallalar Street has changed

The guideline value of Vallalar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 2,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 4,000 per sq.ft, followed by the current value of Rs 4,400 per sq.ft effective from July 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The register does not contain figures for the years 2002 and 2003 for Vallalar Street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Vallalar Street.

• Valluvar Street: Rs 4,400 per sq.ft (2024)
• Valluvar Street Extn.: Rs 3,300 per sq.ft (2024)
• Varasithi Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Vasantha Sampath Garden: Rs 3,300 per sq.ft (2024)
• Veda Nagar IInd Street: Rs 4,400 per sq.ft (2024)
• Veda Nagar Ist 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 guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. 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 Vallalar Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is essential for both buyers and sellers to understand their financial obligations 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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the registration office for Vallalar Street?

The registration office for Vallalar Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Vallalar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.

What are the guideline values of other streets in Koyakbedu?

Other streets in Koyakbedu have varying guideline values, with rates ranging from Rs 2,200 to Rs 16,500 per sq.ft. Some streets, like Valluvar Street and Veda Nagar Ist Street, share the same guideline value of Rs 4,400 per sq.ft.