Guideline Value for Valluvar 1st Street

Valluvar 1st Street guideline value

The current guideline value of Valluvar 1st Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Valluvar 1st Street has changed

The guideline value for Valluvar 1st Street has undergone several revisions over the years. In 2003, the guideline value was Rs 255 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then saw a significant jump to Rs 3,000 per sq.ft in 2012, followed by a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision for 2024 set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 400%. The increase from 2003 to 2007 was 135%. Overall, from 2003 to 2024, the guideline value has risen by 1194%. Notably, there is no figure available for the year 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is the same as the current value for Valluvar 1st Street.

• Valluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Valluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Valluvar High Road: Rs 3,520 per sq.ft (2024)
• Vallalperumal Street: Rs 3,520 per sq.ft (2024)
• Vanniyar Street: Rs 3,520 per sq.ft (2024)
• Varadhan Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar 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, making the total fees 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.

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

Which Sub Registrar Office covers Valluvar 1st Street?

The Valluvar 1st Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware that the stamp duty is calculated based on the higher value between the guideline value and the actual sale price.

When registering a property, the guideline value ensures that the transaction is recorded at a fair and transparent price, which helps in maintaining the integrity of property transactions in the region. It is essential for both parties involved in the transaction to understand the implications of the guideline value on their financial obligations.

Frequently asked questions

What is the current guideline value of Valluvar 1st Street?

The current guideline value of Valluvar 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 255 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1194% during this period.

What is the land classification for Valluvar 1st Street?

Valluvar 1st Street is classified as Residential Class I Type - II.

Where can I find the registration office for Valluvar 1st Street?

The registration office for Valluvar 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 2,97,000.