Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

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 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. The value then saw a significant rise to Rs 700 per sq.ft in 2023, and most recently, it has been revised to Rs 770 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 75%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 93%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with the median value being Rs 770 per sq.ft. Vallalar Street's 2024 guideline value aligns with this median.

• Vadivel Nagar: Rs 1,320 per sq.ft (2024)
• Vanchinathan Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Thiyagaraya Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vallalar Street?

The Sub Registrar Office that covers Vallalar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padiyanallur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for the legal transfer of ownership and must be paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, with various revisions in between, including increases and decreases in value.

What is the registration office for Vallalar Street?

The registration office for Vallalar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the total fees would be Rs 69,300.

What is the land classification of Vallalar Street?

Vallalar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.