Guideline Value for Valluvar Colony

Valluvar Colony guideline value

The current guideline value for Valluvar Colony, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Valluvar Colony has changed

Over the years, the guideline value for Valluvar Colony has seen several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 116 per sq.ft. This value increased significantly to Rs 328 per sq.ft in 2007, marking a rise of 183%. In 2012, the value was revised to Rs 1,200 per sq.ft, reflecting a substantial increase of 266%. However, this figure dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 1,200 per sq.ft, indicating no change between these two years.

The register does not have a figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Valluvar Colony's current guideline value is below this median.

• Valluvar Nagar: Rs 1,200 per sq.ft (2024)
• Vallalar Nagar: Rs 1,500 per sq.ft (2024)
• Vasantham Nagar: Rs 1,500 per sq.ft (2024)
• Usha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Usha Nagar: Rs 1,200 per sq.ft (2024)
• Vedagiri Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. 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 information.

Which Sub Registrar Office covers Valluvar Colony?

The Sub Registrar Office that covers Valluvar Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Valluvar Colony?

The current guideline value of Valluvar Colony is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most significant increase from Rs 116 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2012. The value has remained at Rs 1,200 per sq.ft since 2023.

What is the land classification of Valluvar Colony?

Valluvar Colony is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Valluvar Colony?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.