Guideline Value for Valliammal Nagar

Valliammal Nagar guideline value

The current guideline value of Valliammal Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Valliammal Nagar has changed

The guideline value of Valliammal Nagar has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The value then rose sharply to Rs 4,500 per sq.ft in 2023, and finally, it reached Rs 4,900 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 463%; then a decrease of 33% from 2012 to 2017; followed by a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 shows an increase of 9%. Overall, from 2007 to 2024, the guideline value has increased by 513%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is equal to the guideline value of Valliammal Nagar.

• Vallal Pari Street: Rs 3,300 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)
• Vallalar Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Vallalar Street (J.Pet): Rs 4,100 per sq.ft (2024)
• Valayapathi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valliammal Nagar?

The Sub Registrar Office that covers Valliammal Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Valliammal Nagar?

The current guideline value of Valliammal Nagar is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with significant fluctuations in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Valliammal Nagar?

The land classification for Valliammal Nagar is Residential Class III Type - II.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Valliammal Nagar?

The Sub Registrar Office for Valliammal Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.