Guideline Value for Vallaler Street

Vallaler Street guideline value

The current guideline value of Vallaler Street in Chennerkuppam village, under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - II.

How the guideline value of Vallaler Street has changed

The guideline value for Vallaler Street has seen several revisions over the years. From the 2012 revision, which was Rs 1,400 per sq.ft, it decreased to Rs 938 per sq.ft in 2017. This was a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,400 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,540 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for Vallaler Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the 2024 figure for Vallaler Street.

• Vaniyar Street: Rs 1,320 per sq.ft (2024)
• Vanuver Veethi: Rs 1,320 per sq.ft (2024)
• Thulasi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Thulasi Nagar: Rs 1,430 per sq.ft (2024)
• Thiruverkkadu Road: Rs 2,090 per sq.ft (2024)
• Thiruverkadu Co-operative Nagar PhaseIII&Part1,2: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Vallaler Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making a total of Rs 1,38,600. 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 detailed calculations.

Which Sub Registrar Office covers Vallaler Street?

The Vallaler Street is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chennerkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Vallaler Street?

The current guideline value for Vallaler Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification for Vallaler Street?

The land classification for Vallaler Street is Residential Class I Type - II.

Where can I find the registration office for Vallaler Street?

The registration office for Vallaler Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800.