Guideline Value for Valliammai Nagar 8th Street

Valliammai Nagar 8th Street guideline value

The current guideline value of Valliammai Nagar 8th 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 8th Street has changed

The guideline value for Valliammai Nagar 8th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 97 per sq.ft. This increased to Rs 400 per sq.ft in 2003, marking a significant rise of 312%. By 2007, the guideline value jumped to Rs 500 per sq.ft, a 25% increase. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2012, which was a 400% rise. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The guideline value rose again to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, an increase of 10%.

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 above.

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 8th Street above this median.

• Valliammai Nagar 7th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar Extension: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 4th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammai Nagar 8th 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 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 or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valliammai Nagar 8th Street?

The Valliammai Nagar 8th Street is covered by 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 Nerkundram

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated 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 Valliammai Nagar 8th Street?

The current guideline value of Valliammai Nagar 8th 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, reflecting an overall increase of 2,735% over the years.

What is the land classification of Valliammai Nagar 8th Street?

The land classification for Valliammai Nagar 8th Street is Residential Class III Type - I.

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

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

Which office handles the registration for Valliammai Nagar 8th Street?

The registration for Valliammai Nagar 8th Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.