Guideline Value for Valluvar Nagar

Valluvar Nagar guideline value

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

How the guideline value of Valluvar Nagar has changed

The guideline value for Valluvar Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 116 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. The value then rose dramatically by 266% to Rs 1,200 per sq.ft in 2012, maintaining the same figure until the 2017 revision, where it decreased by 33% to Rs 804 per sq.ft. The 2023 revision retained the value at Rs 1,200 per sq.ft, and the current 2024 revision remains unchanged at Rs 1,200 per sq.ft.

Notably, there is no figure available for Valluvar Nagar in the 2003 revision. 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 with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, placing Valluvar Nagar's 2024 figure below this median.

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

Stamp duty and registration fee for property in Valluvar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the 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, totaling Rs 1,08,000. It is important to note that 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 details.

Which Sub Registrar Office covers Valluvar Nagar?

The Sub Registrar Office that covers Valluvar Nagar 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 information.

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

The guideline value is a crucial factor in property transactions in Nandhivaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a basis for calculating stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Valluvar Nagar?

The current guideline value of Valluvar Nagar 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 changed multiple times, with the most recent revisions being Rs 1,200 per sq.ft in both 2023 and 2024, and Rs 804 per sq.ft in 2017. The overall increase from 2002 to 2024 is 934%.

What are the other streets in Nandhivaram with similar guideline values?

Other streets in Nandhivaram include Valluvar Colony and Vedagiri Nagar, both at Rs 1,200 per sq.ft, while Vallalar Nagar and Vasantham Nagar are at Rs 1,500 per sq.ft in 2024.

How is stamp duty calculated for properties in Valluvar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.

Where can I find the Sub Registrar Office for Valluvar Nagar?

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