Guideline Value for Valluvar 3rd Street

Valluvar 3rd Street guideline value

The current guideline value of Valluvar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Valluvar 3rd Street has changed

The guideline value for Valluvar 3rd Street has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 255 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 135%. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, an increase of 400% from the previous figure. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

There is no figure available for the 2002 revision for Valluvar 3rd Street. Overall, from 2003 to 2024, the guideline value has increased by 1194%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Valluvar 3rd Street.

• Valluvar 2nd Street: Rs 3,300 per sq.ft (2024)
• Valluvar 1st 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 3rd Street

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

Which Sub Registrar Office covers Valluvar 3rd Street?

The Sub Registrar Office that covers Valluvar 3rd Street is 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 information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is set by the government and reflects the minimum price at which a property can be registered.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating the stamp duty. 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 Valluvar 3rd Street?

The current guideline value of Valluvar 3rd 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 significantly from Rs 255 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1194% over this period.

What are the stamp duty and registration fees for properties in Valluvar 3rd Street?

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

Which Sub Registrar Office covers Valluvar 3rd Street?

The Pallavaram Sub Registrar Office covers Valluvar 3rd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification for Valluvar 3rd Street?

The land classification for Valluvar 3rd Street is Residential Class I Type - II, indicating its suitability for residential development.