Guideline Value for Valliammai Nagar 1st Street

Valliammai Nagar 1st Street guideline value

The current guideline value of Valliammai Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Valliammai Nagar 1st Street has changed

The guideline value for Valliammai Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 97 per sq.ft. In 2003, it increased to Rs 400 per sq.ft, marking a significant rise of 312%. The value then saw a 25% increase to Rs 500 per sq.ft in 2007. A substantial jump occurred in 2012 when the value rose to Rs 2,500 per sq.ft, reflecting a 400% increase. However, this was followed by a decrease of 33% to Rs 1,675 per sq.ft in 2017. The value increased again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,735%. There are no figures available for the revisions in years other than those listed.

Guideline values in Nerkundram

In Nerkundram village, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Valliammai Nagar 1st Street's current value above this median.

• Valliammai Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, resulting in Rs 1,92,500, while the registration fee is 2%, amounting to Rs 55,000. Therefore, the total cost for stamp duty and registration fee together is Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valliammai Nagar 1st Street?

The Valliammai Nagar 1st Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a value that reflects the current market standards.

When a property is sold, the guideline value helps in establishing a fair assessment for the transaction, which is essential for both buyers and sellers. This value is used by the registration authorities to calculate the applicable charges, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Valliammai Nagar 1st Street?

The current guideline value of Valliammai Nagar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 97 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 2,735% over the years.

What is the land classification for Valliammai Nagar 1st Street?

The land classification for Valliammai Nagar 1st Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Valliammai Nagar 1st Street?

The Sub Registrar Office covering Valliammai Nagar 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Valliammai Nagar 1st Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2% of the guideline value.