Guideline Value for Vallel Parri Nagar

Vallel Parri Nagar guideline value

The current guideline value of Vallel Parri Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village under the Konnur SRO, classified as Residential Special Type - I.

How the guideline value of Vallel Parri Nagar has changed

Over the years, the guideline value of Vallel Parri Nagar has seen significant changes. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. This increased to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 333%. However, it then decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 6,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 7,100 per sq.ft, representing a 9% increase from the previous year.

The guideline value for the years 2002 and 2003 is not available for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 373%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is the same as the current value for Vallel Parri Nagar.

• Vallal Pari Street: Rs 8,800 per sq.ft (2024)
• Vallaiyapathi Salai: Rs 8,800 per sq.ft (2024)
• Vandi Kalliamman Koil Street (a) Vandiamman Nagar: Rs 5,500 per sq.ft (2024)
• T.V.S. Nagar / Colony: Rs 7,100 per sq.ft (2024)
• Veeramamunivar Salai: Rs 5,500 per sq.ft (2024)
• T.S. Krishna Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vallel Parri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It's 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 information.

Which Sub Registrar Office covers Vallel Parri Nagar?

The Sub Registrar Office that covers Vallel Parri Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mugappair. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the transaction reflects the current market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Vallel Parri Nagar?

The current guideline value of Vallel Parri Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and a significant increase in 2024.

What is the median guideline value for streets in Mugappair?

The median guideline value for streets in Mugappair is Rs 7,100 per sq.ft, which is the same as the current value for Vallel Parri Nagar.

What are the stamp duty and registration fees for a property in Vallel Parri Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 71,00,000, resulting in a stamp duty of Rs 4,97,000 and a registration fee of Rs 1,42,000, totaling Rs 6,39,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.