Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Mudichur village under the Padappai SRO is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the latest 2024 revision further raised it to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for Vallalar Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that Vallalar Street's 2024 figure is below this median.

• Vaigaraiammal Koil Street: Rs 1,210 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 1,210 per sq.ft (2024)
• Vasudeva Nagar: Rs 3,630 per sq.ft (2024)
• Veeraraghava Nagar: Rs 3,630 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• Thiru.Vi.Ka Street: Rs 2,200 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Mudichur, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

The guideline value is set by the Registration Department and is periodically revised. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate their financial obligations during property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification of Vallalar Street?

Vallalar Street is classified as Residential Class II Type - I under the land classification system.

Where can I find the registration office for Vallalar Street?

The registration office covering Vallalar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Vallalar Street?

The 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 Rs 1,210 per sq.ft, the stamp duty would be Rs 84,700.