Guideline Value for Vallavan Nagar

Vallavan Nagar guideline value

The current guideline value of Vallavan Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Vallavan Nagar has changed

The guideline value for Vallavan Nagar has undergone several revisions over the years. The earliest recorded revision in the register is from 2002, where the guideline value was Rs 267 per sq.ft. This increased to Rs 290 per sq.ft in 2003, marking a change of +9%. The value then saw a significant rise to Rs 700 per sq.ft in 2007, which represents an increase of +141%. Following this, the guideline value jumped to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of +257%. However, there was a decline to Rs 1,675 per sq.ft in 2017, showing a decrease of -33%. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, which is an increase of +8%.

Overall, from the first recorded value in 2002 to the current value in 2024, there has been a remarkable increase of +911% in the guideline value of Vallavan Nagar.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value of Vallavan Nagar is below this median.

• Valliammai Nagar: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vallavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Vallavan Nagar?

The Sub Registrar Office that covers Vallavan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the guideline value to ensure compliance with registration requirements.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Vallavan Nagar?

The current guideline value of Vallavan Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 267 per sq.ft to Rs 2,700 per sq.ft in 2024, which is an overall increase of +911%.

What is the classification of land in Vallavan Nagar?

The land classification in Vallavan Nagar is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated in Vallavan Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total cost is based on the higher of the guideline value or the sale price.