Guideline Value for Valluvar Nagar

Valluvar Nagar guideline value

The current guideline value of Valluvar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Valluvar Nagar has changed

The guideline value for Valluvar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision has set it at Rs 1,100 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The change from 2017 to 2023 was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, making Valluvar Nagar's 2024 figure below this median.

• Thulukanathamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thulukanathaman Nagar: Rs 2,400 per sq.ft (2024)
• Venkateswara Street: Rs 1,100 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,100 per sq.ft (2024)
• Vijaya Avenue: Rs 1,200 per sq.ft (2024)
• V.O.C. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Valluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. 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 Nagar?

The Sub Registrar Office that covers Valluvar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential aspect of property transactions in Soorapattu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Valluvar Nagar?

The current guideline value of Valluvar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Valluvar Nagar?

Valluvar Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for properties in Valluvar Nagar?

The stamp duty for properties in Valluvar Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Valluvar Nagar located?

The Sub Registrar Office for Valluvar Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.