Guideline Value for Valliyammai Nagar 1st Street

Valliyammai Nagar 1st Street guideline value

The current guideline value of Valliyammai Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Valliyammai Nagar 1st Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,000 per sq.ft, reflecting an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

The register has no figure for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the guideline value of Valliyammai Nagar 1st Street below that median.

• Valliyammai Nagar: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Valliyammai Nagar main road: Rs 3,850 per sq.ft (2024)
• Valli Street: Rs 3,300 per sq.ft (2024)
• Vallapa Ganapathy Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Valliyammai Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valliyammai Nagar 1st Street?

The Valliyammai Nagar 1st 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 more information.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process of a property sale.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the government for taxation purposes. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Valliyammai Nagar 1st Street?

The current guideline value of Valliyammai Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Valliyammai Nagar 1st Street?

Valliyammai Nagar 1st Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Valliyammai Nagar 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for Valliyammai Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.