Guideline Value for Valliammai Nagar Extension

Valliammai Nagar Extension guideline value

The current guideline value for Valliammai Nagar Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This area 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 Extension has changed

The guideline value for Valliammai Nagar Extension has seen significant changes over the years. In 2002, the guideline value was Rs 97 per sq.ft, which increased to Rs 400 per sq.ft in 2003. By 2007, it further rose to Rs 500 per sq.ft. The value then jumped to Rs 2,500 per sq.ft in 2012, before decreasing to Rs 1,675 per sq.ft in 2017. The value increased again to Rs 2,500 per sq.ft in 2023 and is now Rs 2,750 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a 49% increase, while the jump from 2007 to 2012 represented a 400% increase. The overall change from 2002 to 2024 shows a remarkable increase of 2735%. There are no figures available for Valliammai Nagar Extension in the revisions for the years not listed.

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 for these streets is Rs 2,200 per sq.ft, placing Valliammai Nagar Extension's 2024 value above this median.

• Valliammai Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 8th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 7th 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)

Stamp duty and registration fee for property in Valliammai Nagar Extension

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, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees would total 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valliammai Nagar Extension?

The Valliammai Nagar Extension 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 plays a crucial role in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Valliammai Nagar Extension?

The current guideline value of Valliammai Nagar Extension 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 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 is the land classification for Valliammai Nagar Extension?

Valliammai Nagar Extension is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Valliammai Nagar Extension?

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

How is the stamp duty calculated for properties in Valliammai Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.