Guideline Value for Valliammai Nagar 7th Street

Valliammai Nagar 7th Street guideline value

The current guideline value of Valliammai Nagar 7th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Valliammai Nagar 7th Street has changed

The guideline value for Valliammai Nagar 7th 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%. By 2007, the value further increased to Rs 500 per sq.ft, a growth of 25%. The next revision in 2012 saw the value rise to Rs 2,500 per sq.ft, which was a substantial increase of 400% from the previous figure. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2735%. There are no figures available for the years not listed in the register for this street.

Guideline values in Nerkundram

In Nerkundram, 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 7th Street above this median at Rs 2,750 per sq.ft.

• Valliammai Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar Extension: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammai Nagar 7th 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 amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost together to 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.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Valliammai Nagar 7th Street?

The Valliammai Nagar 7th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nerkundram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Valliammai Nagar 7th Street?

The current guideline value of Valliammai Nagar 7th 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 increased from Rs 97 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2735% over the years.

What is the land classification for Valliammai Nagar 7th Street?

Valliammai Nagar 7th Street is classified as Residential Class III Type - I.

Where can I find the Virugambakkam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Valliammai Nagar 7th Street?

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