Guideline Value for Vallalar street

Vallalar street guideline value

The current guideline value of Vallalar street is Rs 2,750 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vallalar street has changed

The guideline value for Vallalar street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, followed by another increase to Rs 2,750 per sq.ft in the 2024 revision.

From the 2023 to 2024 revision, there was a 10% increase. The change from 2017 to 2023 marked a 49% rise, while the 2012 to 2017 revision experienced a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Vallalar street's 2024 figure above this median.

• Valaiyapathy Street: Rs 1,600 per sq.ft (2024)
• Vaikkam Veerar Street: Rs 1,400 per sq.ft (2024)
• Valmiki Street: Rs 3,300 per sq.ft (2024)
• Vanjinathan Street: Rs 1,300 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 per sq.ft (2024)
• Varadarajapuram: Rs 850 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vallalar street?

The Vallalar street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It is the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallalar street?

The current guideline value of Vallalar street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Vallalar street?

Vallalar street is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Selaiyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be 7% of that amount.