Guideline Value for Valluvar 2nd Street

Valluvar 2nd Street guideline value

The current guideline value of Valluvar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Valluvar 2nd Street has changed

The guideline value for Valluvar 2nd Street has seen several revisions over the years. In 2003, the guideline value was Rs 255 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a significant rise of 135%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, an increase of 400%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1194%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Valluvar 2nd Street.

• Valluvar 1st 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 2nd Street

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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for stamp duty and registration fees 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 detailed calculations.

Which Sub Registrar Office covers Valluvar 2nd Street?

The Sub Registrar Office that covers Valluvar 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Valluvar 2nd Street?

The current guideline value of Valluvar 2nd 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% over this period.

What is the classification of Valluvar 2nd Street?

Valluvar 2nd Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Valluvar 2nd Street?

The Sub Registrar Office for Valluvar 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the stamp duty rate applicable to property transactions?

The stamp duty rate applicable to property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.