Guideline Value for Valliammai Nagar 11th Street

Valliammai Nagar 11th Street guideline value

The current guideline value of Valliammai Nagar 11th 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 11th Street has changed

The guideline value for Valliammai Nagar 11th Street has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 400 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a significant rise of 25%. In 2012, the value rose to Rs 2,500 per sq.ft, reflecting a substantial increase of 400%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the guideline value at Rs 2,750 per sq.ft, a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 588%. The register has no figure for the year 2002 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 as of 2024. The median guideline value is Rs 2,200 per sq.ft, placing Valliammai Nagar 11th Street above this median.

• Valliammai Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 1st 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 11th 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, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valliammai Nagar 11th Street?

The Valliammai Nagar 11th 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 further assistance.

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 price at which a property can be registered. This ensures that the government receives appropriate revenue through stamp duties and registration fees.

When a property is sold, the buyer and seller must refer to the guideline value to ascertain the applicable duties. The higher of the guideline value or the sale price will be used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Valliammai Nagar 11th Street?

The current guideline value of Valliammai Nagar 11th 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 400 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What are the stamp duty and registration fees for property in Valliammai Nagar 11th Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Valliammai Nagar 11th Street?

The Virugambakkam Sub Registrar Office handles registrations for Valliammai Nagar 11th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures that the government receives the appropriate revenue from property transactions.