Guideline Value for Valliammai 2nd Cross Street

Valliammai 2nd Cross Street guideline value

The current guideline value of Valliammai 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Valliammai 2nd Cross Street has changed

The guideline value for Valliammai 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. In 2023, the value was revised to Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,100 per sq.ft, marking a change of +10% from the previous year.

From 2017 to 2023, the guideline value increased by +49%. Overall, from the 2012 revision to the 2024 revision, the change is +10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Valliammai 2nd Cross Street's 2024 figure below that median.

• Valliammai Ist Cross Street: Rs 1,100 per sq.ft (2024)
• Valliammai Street: Rs 1,100 per sq.ft (2024)
• Valluvar Street: Rs 2,750 per sq.ft (2024)
• Valmigi Street: Rs 1,100 per sq.ft (2024)
• Varadhan Street: Rs 1,100 per sq.ft (2024)
• Varadharajan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammai 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valliammai 2nd Cross Street?

The Valliammai 2nd Cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will charge fees based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures transparency and standardization in the registration process. It helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value of Valliammai 2nd Cross Street?

The current guideline value of Valliammai 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Valliammai 2nd Cross Street?

Valliammai 2nd Cross Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Valliammai 2nd Cross Street?

The Sub Registrar Office covering Valliammai 2nd Cross Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.