Guideline Value for Valluvar Cross Street

Valluvar Cross Street guideline value

The current guideline value of Valluvar Cross Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Valluvar Cross Street has changed

Over the years, the guideline value of Valluvar Cross Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision had a figure of Rs 1,340 per sq.ft, marking a significant rise of 49% from that year to 2023. The 2012 revision also had a value of Rs 2,000 per sq.ft, reflecting a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Valluvar Cross Street. The 2012 revision was the first recorded value for this street, and since then, it has undergone the changes outlined above.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, indicating that Valluvar Cross Street's current value of Rs 2,200 per sq.ft is below this median.

• Valluvar Street: Rs 2,700 per sq.ft (2024)
• Valluvar Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Valmiki Street: Rs 2,200 per sq.ft (2024)
• Vanchinathan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Vanchinathan Street (Vivekanandha Nagar): Rs 2,700 per sq.ft (2024)
• Varalakshmi Nagar: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valluvar Cross Street?

The Madhavaram Sub Registrar Office covers Valluvar Cross Street. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the duty is charged on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Valluvar Cross Street?

The current guideline value of Valluvar Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification of Valluvar Cross Street?

Valluvar Cross Street is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Valluvar Cross Street?

The Madhavaram Sub Registrar Office handles property registration for Valluvar Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.