Guideline Value for Valliammal Street (Vetri Nagar)

Valliammal Street (Vetri Nagar) guideline value

The current guideline value of Valliammal Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Valliammal Street (Vetri Nagar) has changed

The guideline value for Valliammal Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the guideline value to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,301 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 372%. It is important to note that the register has no figures for this street for the years 2002 and 2003.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is equal to the current guideline value of Valliammal Street.

• Varadharajan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Veerapandia Kattaboman Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Veerapandiya Kattabomman Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)
• Veeraraghavan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Vengal Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valliammal Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, while the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valliammal Street (Vetri Nagar)?

The Sub Registrar Office that covers Valliammal Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peravallur. It serves as the basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to accurately assess the total costs involved in the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, regardless of the sale price.

Frequently asked questions

What is the current guideline value of Valliammal Street (Vetri Nagar)?

The current guideline value of Valliammal Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What is the land classification for Valliammal Street (Vetri Nagar)?

The land classification for Valliammal Street (Vetri Nagar) is Residential Special Type - II.

Where can I find the Sub Registrar Office for Valliammal Street (Vetri Nagar)?

The Sub Registrar Office for Valliammal Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Valliammal Street (Vetri Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 at a rate of 7%.