Guideline Value for Vallieshvaran Koil Street

Vallieshvaran Koil Street guideline value

The current guideline value of Vallieshvaran Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Periyapanancheri village and falls under the Pammal SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Vallieshvaran Koil Street has changed

The guideline value of Vallieshvaran Koil Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 990 to Rs 4,925 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, positioning Vallieshvaran Koil Street's 2024 figure above this median.

• Tholkappiar Street: Rs 1,650 per sq.ft (2024)
• Sree Ambal Nagar: Rs 1,650 per sq.ft (2024)
• Rukmani Street: Rs 1,320 per sq.ft (2024)
• Ram Nagar: Rs 1,320 per sq.ft (2024)
• Purushothaman Nagar Phase II: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vallieshvaran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Vallieshvaran Koil Street?

The Sub Registrar Office that covers Vallieshvaran Koil Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Periyapanancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the government for taxation purposes. It is essential for buyers to be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Vallieshvaran Koil Street?

The current guideline value of Vallieshvaran Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 64% over this period.

What are the other streets in Periyapanancheri?

Other streets in Periyapanancheri include Tholkappiar Street, Sree Ambal Nagar, Rukmani Street, Ram Nagar, Purushothaman Nagar Phase II, and Purushothaman Nagar, with varying guideline values.

What is the stamp duty for property in Vallieshvaran Koil Street?

The stamp duty for property in Vallieshvaran Koil Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where can I find the Sub Registrar Office for Vallieshvaran Koil Street?

The Sub Registrar Office for Vallieshvaran Koil Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all property registrations in the area.