Guideline Value for Valli Lane

Valli Lane guideline value

The current guideline value of Valli Lane is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Valli Lane has changed

Over the years, the guideline value of Valli Lane has seen several revisions. In 2012, the guideline value was Rs 2,800 per sq.ft, which decreased to Rs 1,876 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,080 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Valli Lane's current guideline value is below this median.

• Vandikara Street: Rs 8,250 per sq.ft (2024)
• Veeramamunivar Street: Rs 4,620 per sq.ft (2024)
• Thiruvasagam Street: Rs 3,520 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,620 per sq.ft (2024)
• Thirumoolar Street: Rs 3,520 per sq.ft (2024)
• Thirumal Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Lane

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, totaling Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Valli Lane?

The Sub Registrar Office that covers Valli Lane is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during the registration process to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Valli Lane?

The current guideline value of Valli Lane is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,080 per sq.ft in 2024.

What is the land classification for Valli Lane?

Valli Lane is classified as Residential Class IV Type - I, indicating its use for residential purposes.

What are the stamp duty rates for properties in Valli Lane?

The stamp duty for properties in Valli Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Valli Lane?

The Sub Registrar Office for Valli Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.