Guideline Value for Vallalperumal Street

Vallalperumal Street guideline value

The current guideline value of Vallalperumal Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Vallalperumal Street has changed

The guideline value for Vallalperumal Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 554 per sq.ft. In 2007, it saw a significant increase to Rs 1,000 per sq.ft, followed by a remarkable rise to Rs 3,200 per sq.ft in 2012. However, there was a decrease to Rs 2,144 per sq.ft in 2017. The value then increased to Rs 3,200 per sq.ft in 2023, and finally to the current rate of Rs 3,520 per sq.ft in 2024. The register has no figure for the year 2002 for this street.

Between the revisions, the most notable changes include a 220% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 535%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Vallalperumal Street's 2024 figure above this median.

• Valluvar 1st Street: Rs 3,300 per sq.ft (2024)
• Valluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Valluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Valluvar High Road: Rs 3,520 per sq.ft (2024)
• Vanniyar Street: Rs 3,520 per sq.ft (2024)
• Vaishnava College Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Vallalperumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost for these fees Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vallalperumal Street?

The Sub Registrar Office that covers Vallalperumal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions reflect a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vallalperumal Street?

The current guideline value of Vallalperumal Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 554 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 535% over the years.

What is the registration office for Vallalperumal Street?

The registration office for Vallalperumal Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

What is the land classification for Vallalperumal Street?

Vallalperumal Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.