Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Perungalathur village, under the Padappai SRO, is Rs 2,640 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft. This saw a significant increase to Rs 2,400 per sq.ft in the 2012 revision, which was a rise of 1,100%. However, the value then decreased to Rs 1,608 per sq.ft in the 2017 revision, marking a reduction of 33%. The 2023 revision set the value at Rs 2,400 per sq.ft, which was an increase of 49% from the 2017 figure. The most recent revision in 2024 raised the guideline value to Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Vallalar Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 1,220%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Vallalar Street's 2024 guideline value above this median.

• Valmiki Street: Rs 2,310 per sq.ft (2024)
• Vanavil Avenue: Rs 3,960 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 per sq.ft (2024)
• U.V. Saminathan Street: Rs 1,650 per sq.ft (2024)
• Varadarasan Street: Rs 2,310 per sq.ft (2024)
• Varadha Nagar: Rs 3,120 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 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, while the registration fee at 2% would be Rs 52,800. Together, the total cost for stamp duty and registration would be Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 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 Perungalathur

The guideline value is an important factor when registering property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions based on current market conditions.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 200 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, which is an overall increase of 1,220%.

What is the median guideline value for streets in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, with Vallalar Street's 2024 value being above this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 26,40,000, with stamp duty at Rs 1,84,800 and registration fees at Rs 52,800, totaling Rs 2,37,600.

Which office handles property registration for Vallalar Street?

The Padappai Sub Registrar Office handles property registration for Vallalar Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.