Guideline Value for Valli Street

Valli Street guideline value

The current guideline value of Valli Street, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Valli Street has changed

The guideline value for Valli Street has seen significant changes over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003. A notable jump occurred in 2007 when the value rose to Rs 500 per sq.ft, followed by a substantial increase to Rs 3,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft. The value then increased to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

The changes between these revisions highlight a 10% increase from 2023 to 2024, a significant 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and an extraordinary 500% increase from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 669%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making Valli Street's 2024 figure below that median.

• Valliyammai Nagar: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar main road: Rs 3,850 per sq.ft (2024)
• Vallapa Ganapathy Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Valli Street?

The Sub Registrar Office covering Valli Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Valli Street?

The current guideline value of Valli Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 429 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 669% over the years.

What is the land classification for Valli Street?

Valli Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.

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

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

Where is the Sub Registrar Office for Valli Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.