Guideline Value for Valliammai Nagar 2nd Street

Valliammai Nagar 2nd Street guideline value

The current guideline value of Valliammai Nagar 2nd 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 2nd Street has changed

The guideline value for Valliammai Nagar 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 97 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2003. The value continued to rise, reaching Rs 600 per sq.ft in 2007, and then saw a substantial increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The value then rose again to Rs 2,500 per sq.ft in 2023, culminating in the current guideline value of Rs 2,750 per sq.ft in 2024.

Between the revisions, there have been notable changes. The increase from 2023 to 2024 was 10%. The jump from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The value saw a remarkable increase of 317% from 2007 to 2012, and a 50% rise from 2003 to 2007. The increase from 2002 to 2003 was 312%. Overall, from 2002 to 2024, the guideline value has increased by 2735%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of Valliammai Nagar 2nd Street above that median.

• Valliammai Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 10th 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the 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 Nagar 2nd Street?

The Valliammai Nagar 2nd 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 of property transactions in Nerkundram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, 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 values.

Frequently asked questions

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

The current guideline value of Valliammai Nagar 2nd 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 significantly from Rs 97 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2735% over this period.

What are the stamp duty and registration fees for properties in Valliammai Nagar 2nd Street?

For a plot of 1,000 sq.ft, the total guideline value is Rs 27,50,000, resulting in a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office handles registrations for Valliammai Nagar 2nd Street?

The Virugambakkam Sub Registrar Office at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, handles registrations for Valliammai Nagar 2nd Street.

What is the land classification for Valliammai Nagar 2nd Street?

The land classification for Valliammai Nagar 2nd Street is Residential Class III Type - I.