Guideline Value for Valliyammai Nagar

Valliyammai Nagar guideline value

The current guideline value of Valliyammai Nagar, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Valliyammai Nagar has changed

The guideline value for Valliyammai Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 435 per sq.ft, which increased to Rs 473 per sq.ft in 2003. By 2007, the value rose sharply to Rs 650 per sq.ft, and in 2012, it reached Rs 3,000 per sq.ft. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2002 to 2024, there has been an overall increase of 659%. The change from 2017 to 2023 was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. The 2007 to 2012 revision experienced a substantial increase of 362%, and the 2003 to 2007 revision had a rise of 37%. Lastly, the increase from 2002 to 2003 was 9%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, making the current value of Valliyammai Nagar below this median.

• Valliyammai Nagar 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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?

The Valliyammai Nagar area falls under 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 is a critical factor during the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Valliyammai Nagar?

The current guideline value of Valliyammai Nagar 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 significantly, starting from Rs 435 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 659%.

What are the stamp duty rates for properties in Valliyammai Nagar?

The stamp duty for properties in Valliyammai Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Valliyammai Nagar is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Valliyammai Nagar?

The land classification for Valliyammai Nagar is Residential Class II Type - II, indicating its designation for residential purposes.