Guideline Value for Valluvar Street

Valluvar Street guideline value

The current guideline value of Valluvar Street in Thandalam village, under the Pammal SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Valluvar Street has changed

The guideline value of Valluvar Street has seen several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 536 per sq.ft. This figure increased to Rs 800 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for Valluvar Street in the revisions of 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Valluvar Street's 2024 figure below this median.

• Vanigar Street (ward 2): Rs 990 per sq.ft (2024)
• Vanigar Street (ward 3): Rs 990 per sq.ft (2024)
• Vellalar Street: Rs 880 per sq.ft (2024)
• Vivekanandhar Street: Rs 880 per sq.ft (2024)
• Subham Avenue: Rs 1,210 per sq.ft (2024)
• S.S.Garden: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Street?

The Sub Registrar Office that covers Valluvar 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thandalam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Valluvar Street?

The current guideline value of Valluvar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties on Valluvar Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200 in fees.

Which office handles registrations for Valluvar Street?

The Pammal Sub Registrar Office is responsible for handling registrations for Valluvar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that these costs are based on an official valuation, which is crucial for both buyers and sellers.