Guideline Value for Valluvar Cross Street

Valluvar Cross Street guideline value

The current guideline value of Valluvar Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Valluvar Cross Street has changed

The guideline value for Valluvar Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which saw a significant increase to Rs 2,200 per sq.ft in the 2012 revision. However, this value dropped by 33% to Rs 1,474 per sq.ft in the 2017 revision. The subsequent revision in 2023 increased the value to Rs 2,200 per sq.ft, followed by an 8% rise to the current value of Rs 2,380 per sq.ft in 2024.

Notably, the register has no figures for Valluvar Cross Street in the years 2002 and 2003. Overall, the guideline value has increased by 495% from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value of Valluvar Cross Street is below this median.

• Valluvar Street: Rs 2,380 per sq.ft (2024)
• Vallalar Street: Rs 1,650 per sq.ft (2024)
• Varadharajan Street: Rs 3,850 per sq.ft (2024)
• Velmurugan Colony & Nagar: Rs 2,970 per sq.ft (2024)
• Thoilkapiyam Street: Rs 2,970 per sq.ft (2024)
• Thiyagarayar Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, while the registration fee at 2% would be Rs 47,600, bringing the total charges to Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Valluvar Cross Street?

The Valluvar Cross Street falls under the jurisdiction of 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 Hastinapuram

The guideline value is a critical factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It provides a standard reference for both buyers and sellers, facilitating a smoother registration process at the Pallavaram SRO.

Frequently asked questions

What is the current guideline value of Valluvar Cross Street?

The current guideline value of Valluvar Cross Street is Rs 2,380 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 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, marking an overall increase of 495%.

What is the land classification for Valluvar Cross Street?

Valluvar Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Pallavaram Sub Registrar Office covers Valluvar Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Valluvar Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600.