Guideline Value for Vallalar Street

Vallalar Street guideline value

The current guideline value of Vallalar Street in Maduravoyal village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Virugambakkam SRO and is classified as Residential Class V Type - I.

How the guideline value of Vallalar Street has changed

The guideline value for Vallalar Street has experienced several revisions over the years. The earliest recorded figure is from 2002, which was Rs 283 per sq.ft. This increased to Rs 310 per sq.ft in 2003, followed by a rise to Rs 400 per sq.ft in 2007. The value saw a significant jump to Rs 2,000 per sq.ft in 2012, but then decreased to Rs 1,340 per sq.ft in 2017. The guideline value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017. The jump from 2007 to 2012 was remarkable at 400%, and there was a 29% increase from 2003 to 2007. From 2002 to 2003, the increase was 10%. Overall, from 2002 to 2024, the guideline value has risen by 677%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, placing Vallalar Street's 2024 figure below that median.

• Vadavenni Amman Nagar: Rs 3,050 per sq.ft (2024)
• Vadaveniamman Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vadaveniamman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vadaveniamman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vadaveniamman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 3,050 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Maduravoyal. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that the guideline value is often used as a benchmark for these calculations.

When selling a property, the seller must ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vallalar Street?

The current guideline value of Vallalar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 283 per sq.ft in 2002 to the current Rs 2,200 per sq.ft in 2024, marking an overall increase of 677%.

What is the land classification of Vallalar Street?

Vallalar Street is classified as Residential Class V Type - I under the Virugambakkam SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Vallalar Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.